ANZ Banking Group and Bendigo Bank illustrated the continued strong demand in the domestic mortgage-backed securiites market when they priced a total A$900 million MBS at the tighter end of expectations.
ANZ, one of the country's four major banks, priced the second issue from its Kingfisher Securitisation vehicle. Series 2001-1D consisted of A$500 million of floating- rate notes in three sequential tranches. The A$280 million of Class A1 senior notes had a weighted average life of 1.44 years and priced at 23 basis points over the bank bill swap rate, while the A$210 million of Class A2 senior notes, which had a WAL of 5.27 years, priced at 36 basis points over BBSW. Neither the WAL nor the pricing for the A$10 million Class B subordinated tranche was disclosed..