Fourth RMBS Auction Notice – Update

18 August 2015

This Operational Notice provides revised details of the fourth RMBS auction, to be held on Tuesday 15 September 2015.

Details of the auction process were published in an Operational Notice on 10 June, here: http://aofm.gov.au/operational-notice/rmbs-divestment-process/ . These are to be read in conjunction with this Operational Notice.

Results of the third auction were announced earlier today, here: http://cdn.aofm.gov.au/uploads/sites/31/2015/06/151022_RMBS_Auction_Results.xlsx

Consistent with the Treasurer’s Direction of 5 May 2015, the AOFM is exercising its discretion with regards to sale volumes to minimise potential market disruptions. Until further notice, the AOFM plans to offer RMBS notes for sale in which its holdings, in Amortised Face Value terms, are between $350 million and $400 million per auction. This means that for the fourth auction, a note that was previously identified for sale is to be deferred until the fifth auction, namely FIRSTMAC 1-2012 A2. Updated details for the fourth auction are as follows:

 

Auction Date:

Bids close 11am AEST, Tuesday 15 September 2015;

Results announced 2pm AEST, Tuesday 15 September 2015;

Confirmations to be sent to successful bidders following publication of results.

Settlement:

Via Austraclear, on Friday, 18 September 2015.

Volume:

Up to the entirety of the AOFM’s holdings of the securities.

Securities to be auctioned:

Security ISIN

AOFM Holding

(Original FV Terms)

IDOL 2010-1 A2 AU3FN0011839 $162,000,000
SMHL 2010-2E A3 AU3FN0010963 $150,000,000
TORRENS 2011-1E A3 AU3FN0013561 $195,000,000

 

RMBS Divestment Panel

The RMBS Divestment Panel remains unchanged from the advice of 14th July.

 

Australia and New Zealand Banking Group Limited

Barclays Bank PLC

Citibank NA

Citigroup Pty Ltd

Commonwealth Bank of Australia

Deutsche Bank AG Sydney Branch

Macquarie Bank Limited

National Australia Bank Limited

Westpac Banking Corporation

Last updated: 22 October 2015