Mortgage finance specialist Resimac has completed its inaugural issue of residential mortgage-backed securities in New Zealand. The issue, Resimac Versailles Trust Series 2014-1, is also the first public RMBS issue in the New Zealand market since 2010.The issuer was Resimac Home Loans Ltd, a subsidiary of Resimac Ltd. It raised NZ$150 million.The NZ$115.5 million of A1 notes were priced at 105 basis points over the bank bill reference rate.This is the same pricing that Resimac paid on the top Australian dollar tranche of a dual currency issue in the local and US markets in June.Pricing on the other notes ranged from 160 bps to 660 bps.Resimac executive director, Mary Ploughman, said the transaction was an important development for the company, allowing it to access New Zealand investors to fund the growth of its business there.