Australian Mortgage Securities, a mortgage finance business owned by ABN AMRO, priced its biggest euro mortgage-backed transaction to date.

The US$750 million deal featured US$300 million of Class A-1 senior notes with an average life of one year and five months, and US$425.5 million of Class A-2 notes with an average life of four years and eight months. The tranches were priced at 20 and 30 basis points respectively over Libor.

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