Athena launches A$300 million 2021-1PP RMBS

Tuesday, 19 October 2021

On 19 October, Athena launched its capped A$300 million (US$222.6 million), prime, residential mortgage-backed securities (RMBS) deal, Athena Trust 2021-1PP. The transaction is expected to price by 21 October. National Australia Bank is arranger and lead manager.

Athena Trust 2021-1PP indicative price guidance and structure

Tranche	Indicative volume (A$m)	Expected rating (F)	Weighted-average life (no. of years)	Indicative credit support (per cent)	Indicative price guidance (bp/1m BBSW)
A	282	AAA	1.6	6	ND
B	9	AA	2	3	150 area
C	3.9	A	2	1.7	155-160 area
D	2.15	BBB+	2	0.98	230 area
E	1.2	BB	2	0.58	425 area
F	1.15	B	2	0.2	590 area
G	0.6	NR	2	N/A	ND

Source: National Australia Bank 19 October 2021

Tranche A is not available.