Australia's second residential mortgage-backed securities (RMBS) deal of 2013 priced on February 15, as Westpac Banking Corporation followed Bendigo and Adelaide Bank (BEN) into the securitisation market emerged. The transaction, WST Trust Series 2013-1, is a three-tranche RMBS which was upsized to aggregate volume of A$2.1 billion (US$2.2 billion) from the indicative A$750 million.
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