AFG prices a second RMBS
Mortgage specialist AFG has successfully priced its second Residential Mortgage Backed Securities (RMBS) transaction - the AFG 2013-2 Trust.
The company announced that the trust had been priced with 14 investors both onshore and offshore participating.
It said the trust represented the second RMBS transaction for AFG this year following on from a successful $275 million deal in March.
Commenting on the arrangement, AFG chief financial officer David Bailey said the company had aimed to complete two RMBS transactions in calendar year 2013, and it had been particularly pleased to welcome a number of new investors to the program and to also complete a slightly larger overall transaction size.
The $300 million pool of home loans were originated through the AFG network and will be managed by the AFG Home Loans and Securities teams.
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