Specialist mortgage lender RedZed yesterday priced its $150 million specialist RMBS transaction 'RedZed Trust Series 2014-1'.
It is the lender’s second issue after the RedZed Trust Series 2011-1 term transaction.
"We were pleased to be able to build relationships with investors across the capital structure and see it as a further vote of confidence in RedZed," RedZed managing director Evan Dwyer said.
Six investors participated in the transaction, with 85 per cent comprising real money accounts.
CBA and NAB were joint lead managers on the issue.
“The transaction supports RedZed’s overall funding strategy,” CBA head of debt markets securitisation Robert Verlander said.
“The transaction structure delivers competitive pricing and demonstrates continued investor demand of RMBSs issued by Australian specialist lenders,” he said.
NAB associate director of investment grade origination Craig Stevens said the transaction represents another step in building the RedZed brand in the RMBS Australian specialist lending space and was positively received by the market with strong participation by real money accounts.
The transaction is due to settle on 13 May 2014.
RedZed Lending Solutions is a specialist residential mortgage lender that distributes through a limited group of mortgage brokers on a national level.