Suncorp looks for UK bid for new Aussie dollar RMBS
Australia’s Suncorp Bank has gone ahead with a A$750m (€581m) new issue from its Apollo RMBS platform in a deal that will target heavy allocation to UK investors.
Obvion plots Storm return
The last Dutch covered bond deal in euros was priced over six months ago and, though there are hopes that ING or ABN will return before August, issuers are not in any hurry. However, yield hungry investors were served a rare treat last week when two Dutch issuers supplied investors with RMBS at considerably more attractive high double digit spreads.
Rabobank issues first Dutch RMBS of 2013
Rabobank’s subsidiary, Obvion, looks set to price the first Dutch syndicated RMBS of the year at the tightest levels since the crisis. Despite that, the headline spread will be nearly ten times wider than where a putative covered bond deal would price.