Macquarie Securitisation, Australia's most active issuer, last week completed the latest RMBS from its PUMA program. Due to huge local and offshore investor support, the multicurrency deal was upsized from A$2.1 billion-equivalent ($1.6 billion) to A$3.3 billion. Citigroup, Deutsche Bank and Macquarie Bank - the borrower's parents - acted as joint leads on the offering with Royal Bank of Scotland co-manager.

The deal marked a number of firsts for Macquarie, including being its largest securitization to date, and the first to include a Euro tranche.

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