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Asset-backed market open

Investec Bank (Australia) on Friday launched a A$240 million, auto and equipment receivables issue, via Impala Series No.1 2010-1.The Impala issue comprises six tranches: A$221 million of Class A, 'AAA' rated notes with a weighted average life of 1.8 years; A$4 million of Class B, 'AA' rated notes; A$4 million of Class C, 'A' rated notes; A$4 million of Class D, 'BBB' rated notes; A$1 million of Class E, 'BB' rated notes; and A$7 million of unrated Class F notes. The Class B to E notes have a WAL of 2.6 years and the WAL for the Class F notes is 3.7 years. Indicative pricing on the Class A notes is 160 bps to 165 bps over bank bills. Pricing is expected this week. RESIMAC Triomphe Trust - RESIMAC Premier Series 2010-1 (reported during last week) hopes to price a minimum A$250 million prime Lo-Doc RMBS issue on Wednesday.

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