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Citibank reopens frozen credit markets

Staff Reporter 1 minute read

Citibank confirmed today that it had reopened Australian securitisation markets with a $500 million Class A note RMBS deal priced 1.45 per cent over the Bank Bill Swap Rate (BBSW).

The deal had a weighted average seasoning of 38 months, a weighted average LVR of 51.52 per cent and a total of 21 offshore and domestic investors. It was made up entirely of variable-rate home loans.

Roy Gori, chief executive of Citibank, said the organisation was delighted with the strong interest it received in the program and said it was a clear sign credit markets were beginning to clear.

“Much progress will still need to be made before a reversion to ‘normality’, but this is a clear vote of confidence in the longer-term,” Mr Gori said.

Published: 16-05-08

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Citibank reopens frozen credit markets
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