Class A notes received an AAA-rating with a stable outlook, while Class B notes were set at an AA-minus-rating with a negative outlook.
Notes worth $ 238.4 million were issued to fund the purchase of almost 1000 mortgages and a liquidity reserve.
Around 34.5 per cent of the loans in the pool are reduced documentation loans, 44.9 per cent of the portfolio are investment loans and mortgages with interest-only periods comprise 68 per cent of the pool.
The transaction documents allow further notes to be issued up to the facility limit of $350 million.
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