AFG IN FIRST $275 MILLION RMBS DEAL
AFG is pleased to announce it has successfully priced its inaugural Residential Mortgage Backed Securities (RMBS) transaction. The AFG 2013-1 Trust priced today with 10 investors both onshore and offshore participating.
The finalisation of this transaction follows a successful 2 week soft sounding process during which there was a high level of engagement from investors.
AFG Home Loans General Manager Paul O’Donnell said: “We are delighted with the outcome and see this as a key milestone for AFG. We plan to be a regular issuer of RMBS and we will be back in the market in the coming months”
The $275 million pool of home loans were originated through the AFG network and are managed by the AFG Home Loans and AFG Securities teams.
The pool was made up of 943 loans with a weighted average LVR of 64.2%. Investment loans represented 23.7% of the pool and the weighted average seasoning is 7.3 months.
