Lloyds inaugurates new market with inclusion of Kangaroo RMBS tranche [UPDATED]
Lloyds Banking Group (Lloyds) has included an Australian dollar tranche in its latest securitisation, in what is believed to be the first ever Kangaroo residential mortgage-backed securities (RMBS) deal. The transaction, Headingley RMBS 2011-1, is headlined by Australian dollar- and euro-denominated class A1 tranches with the balance made up of a further six sterling pieces.
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Westpac completes A$1.5 billion government-guaranteed buyback [UPDATED]
On March 22 Westpac Banking Corporation (Westpac) (AA/Aa1) completed its offer to buy back up to the total volume of its March 19 2012 government-guaranteed bonds, with the bank retiring a total of A$1.5 billion (US$1.5 billion) of the original A$3.6 billion outstanding in the line. The buyback was offered at a price of 10 basis points below swap and bank bill swap rate.
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