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AMP Bank’s Progress 2021-1 Trust upsized to A$1.0 billion
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11 June 2021
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The Progress 2021-1 Trust Residential Mortgage Backed Securities (RMBS) has been upsized from A$500 million to A$1.0 billion due to investor demand.

There were 27 investors in the transaction, of which approximately 70 per cent by number of accounts were real money investors, with strong interest from offshore investors (33 per cent by number of investors). 

The offer received strong support from the outset, allowing the book to be upsized and the price to be revised inside the guidance levels.

AMP Group Treasurer Jason Bounassif said:

“We are extremely pleased with the outcome as the pricing levels were at the tightest levels we have seen since the global financial crisis. We very much appreciate the ongoing support from both new and returning investors”.

Details of the A$1.0 billion issue are as follows:

NAB was the arranger of the transaction with CBA, Deutsche Bank, MUFG, Standard Chartered Bank and WPAC acting as Joint Lead Managers.

Contact details
Brett Zarb
+61 417 256 563
Brett_Zarb@amp.com.au
Contact details
Mark Roberts
+61 (0) 466 328 581
Mark_Roberts@amp.com.au