The underlying pool - worth Ñ29.8 billion - is made up of 4,680 loans, 70% of which were originated to refinance the obligors existing mortgage loan. The average loan-to-value of the loans is 45.79% and the pool has an average seasoning of 43.77 months.
The transaction has been split into five floating rate tranches that will pay a coupon over one month Japanese Libor. Moodys Investors has given triple-A ratings to the three senior...
