Commonwealth Bank is preparing to resume its Medallion Residential Mortgage Backed Security programme, and is to be a three tranche affair worth $750 million. The first of the Medallion programme for 2016, it will be considerably smaller than the $2 billion RMBS offering at the end of August, which also comprised three tranches. This time the Class A notes will be split in tranches which either offer a spread over 1 m BBSW or 3m BBSW.
The previous Medallion RMBS issue was in August 2015 and was for $1.84 billion at BBSW + 90bps.
[Updated 7 March] The $1.6 Billion Medallion RMBS issue was priced at BBSW + 140bps.