Suncorp securitises $2.6 billion of home loans

Suncorp securitised $2.6 billion in residential mortgages last Thursday, 15 May.

The transaction consisted of three tranches: $2.290 billion in AAA-rated notes, $96.2 million AA-rated notes and $213.2 million of unrated notes. The deal comprised of both fixed- and variable-interest rate mortgages.

Suncorp said the securities would be held on its balance sheet and, if required, the Class A notes would be eligible to generate up to $2 billion in additional liquidity from the Reserve Bank.

Published: 22-05-08