Thinktank prints A$500 million 2022-1 RMBS deal

Thursday, 07 April 2022

Issue name: Think Tank Residential Series 2022-1 Trust
Sponsor: Thinktank Group
Pricing date: 7 April 2022
Settlement date: 13 April 2022
Arranger: Commonwealth Bank of Australia
Lead managers: CBA, Deutsche Bank, National Australia Bank, Standard Chartered, Westpac Institutional Bank
Collateral type: residential mortgage-backed securities
Indicative volume: A$500 million (US$375.4 million)

Think Tank Residential Series 2022-1 Trust structure and pricing

Tranche	Volume (A$m)	Expected rating	Weighted-average life (no. of years)	Credit support (per cent)	Margin (bp/1m BBSW)
A1-S	100	AAA/AAA	0.4	20	65
A1-L	300	AAA/AAA	2.7	20	135
A2	52.5	AAA/AAA	2.7	9.5	190
B	23.5	AA/NR	3.7	4.8	240
C	9.5	A/NR	3.7	2.9	260
D	5.5	BBB/NR	3.7	1.8	300
E	4	BB/NR	3.7	1	500
F	2.5	B/NR	3.7	0.5	700
G	2.5	NR/NR	4.1	ND	ND

Source: Commonwealth Bank of Australia 7 April 2022