NAB launches National RMBS Trust 2011-2 debt issue

20 September 2011

National Australia Bank (NAB) has today commenced marketing a A$750 million Residential Mortgage Backed Securities (RMBS) transaction, National RMBS Trust 2011-2, its second in 2011 and the first public RMBS issue in Australia since mid-July.

The issue is the first US dollar denominated National RMBS transaction since 2006 and the second US dollar denominated RMBS offering to come out of Australia since before the Global Financial Crisis.

The issue is backed by 2,597 housing loans originated and serviced by NAB and secured by mortgages over residential property located in Australia.

Only senior Class A notes are being offered, with Class B Notes and Class C Notes retained by NAB. The Class A Notes are split into US dollar floating rate 2-year soft bullet Class A1 Notes offered to institutional investors in the US and Australian dollar 3-year amortising Class A2 Notes.

The transaction is expected to price this week.

NAB is lead manager and arranger on the transaction

Media Contact
Cherry Dinh
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