Staff Reporter
Strong investor demand has enabled AMP to upsize its first Australian Residential Mortgage Backed Securities transaction for the year.
The new transaction was upsized from $500 million to $940 million after 16 investors, including the Australian Office of Financial Management and an offshore account, participated.
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The AOFM co-participated in the Class A2 Notes, purchasing $138 million of this class. All the remaining Classes of Notes went to external investors.
The transaction gained good momentum from the outset allowing for the over-subscribed book to be upsized and pricing to be tightened on the Class A1 Notes to BBSW +100bp.
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