AFG prints A$1 billion prime RMBS

Friday, 09 September 2022

Issue name: AFG 2022-2 Prime
Sponsor: Australian Finance Group
Pricing date: 9 September 2022
Settlement date: 16 September 2022
Arranger: National Australia Bank (NAB)
Lead managers: ANZ, Commonwealth Bank of Australia, NAB, United Overseas Bank
Collateral type: prime residential mortgages
Volume: A$1 billion (US$681.3 million)

AFG 2022-2 Prime structure and pricing

Tranche	Volume (A$m)	Expected ratings (S/F)	WAL (years)	Credit support (per cent)	Margin (bp/1m BBSW)
A1-S	300	AAA/AAA	0.5	10	110
A1-A	600	AAA/AAA	2.5	10	155
A2	43	AAA/AAA	2.9	5.7	235
B	28	AA/NR	2.9	2.9	290
C	12.5	A/NR	2.9	1.65	350
D	7.5	BBB/NR	2.9	0.9	415
E	4	BB/NR	2.9	0.5	635
F	5	NR/NR	3	N/A	ND

Source: National Australia Bank 9 September 2022