Columbus Capital launches Triton 2018-1 RMBS deal

Wednesday, 11 July 2018

On 11 July, Columbus Capital launched its residential mortgage-backed securities transaction, Triton 2018-1. The deal has an indicative total volume of A$500 million (US$371.1 million) equivalent, including the US dollar denominated Class A1-US notes.

Triton 2018-1 indicative price guidance and structure

Tranche	Indicative volume (m)	Expected ratings (S&P/Fitch)	Weighted-average life (no. of years)	Indicative price guidance (bp/1m BBSW)
A1-MM	A$46	AAA/AAA	0.4	80
A1-US	US$100	AAA/AAA	1.4	95 area/1m US LIBOR
A1-AU	A$185	AAA/AAA	3	123-125
A1-5Y	A$65	AAA/AAA	4.9	155 area
A2	A$25	AAA/AAA	4.2	165 area
A3	A$20.5	AAA/AAA	4.2	175 area
AB	A$8.5	AAA/NR	4.2	185 area
B	A$10	AA/NR	4.2	193
C	A$6.25	A+/NR	4.2	270
D	A$2	BBB+/NR	4.2	380
E	A$1.25	BB+/NR	3.3	580
F	A$1.5	NR/NR	4.9	700

Source: National Australia Bank 11 July 2018

Class A1-MM, Class B, Class C, Class D, Class E and Class F notes are preplaced. Pricing is expected on or before 13 July, according to arranger National Australia Bank, which is also leading alongside MUFG Securities and Westpac Institutional Bank.