South African RMBS issuer Investec Bank is refinancing notes under its program called Private Residential Mortgages (PRM) Ltd - Series 2.

The transaction, according to a Moody's Investors Service presale report, is the fifth securitization of South African residential mortgage loans that were originated by Investec. It is also the third refinancing of the notes within PRM — Series 2. This series was originally rated by Moody's in November 2007.

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