MyState Limited (ASX: MYS) has witnessed a strong investor demand for its recent CONQUEST Series 2017-1 $400m

MyState Limited (ASX: MYS) has witnessed a strong investor demand for its recent CONQUEST Series 2017-1 $400m RMBS (Residential mortgage-backed security), and resulted in tighter pricing for the transaction. The transaction was the largest in the long history of the CONQUEST program and elicited broader investor support than any of previous transaction. Strong investors’ appetite for MYS RMBS placing MyState as a regular issuer to the market and increasingly seek to benefit from participating in a program with exemplary credit performance and increasing geographic diversification. Further, the senior tranches of notes have received a preliminary rating of AAA (sf) from Standard and Poor and Fitch Ratings. The transaction is backed by Australian prime residential mortgages originated by MyState Bank Limited while eighteen domestic and foreign investors participated in the transaction. The successful transaction represents the sixth RMBS transaction under the CONQUEST program following from the recent transaction completed in November 2016. The stock has moved up 4% over the last six months, while it was up 9.8% in the last one year (as on June 23,2017).

 

 

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