Deutsche Bank has filed with Mexican regulators a first-ever collateralization of local mortgage-backed securities. The prospectus doesn't disclose a size for the transaction but it does list five RMBS as collateral (see table). Only the senior tranche of deals with senior-sub structures will back the transaction, according to a source familiar with the transaction.
The arranger is aiming for a triple-A on the national scale, a fairly easy target given that all the collateral carries triple-A ratings from either two or three of the main agencies, the source added. Pricing is slated for next month.