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Greater soon to disclose RMBS details

by Staff Reporter6 minute read

The Greater Building Society is expected to disclose the details of its residential mortgage backed security (RMBS) issues sometime this week.

According to an investor, the 0.5 year RMBS tranche is likely to price around 80 basis points over BBSW.

The investor, who asked not to be identified, told Ninemsn that the margins on the other tranches of the $261.8 million had not been disclosed.

The offer, called GBS Receivables Trust 4, features four tranches with a final maturity of 11 October 2040.

The Greater Building Society is the last named recipient of the federal government’s $8 billion RMBS support scheme.

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