MA Money goes public for upsized debut RMBS term out
MA Money says it was rewarded for its decision to offer its debut residential mortgage-backed securities transaction as a fully public deal by earlier-than-expected demand from key international accounts. The issuer’s aim is to build a programme that reliably issues once or more a year and with this aim in mind it viewed a relatively early public debut as a key step toward investor diversification.
First Contact in Australian dollars as Kiwi corporate flow continues
Contact Energy says it has long-term plans to build out its presence in the Australian dollar market following a well-received Kangaroo green-bond debut. The issuer is the fourth New Zealand-based corporate name to print an Australian dollar transaction this year and the second in November.
Queensland infrastructure names hint at long-awaited corporate market delivery
Port of Brisbane and Transurban Queensland’s return to domestic issuance was greeted with solid book volumes and significant margin progression. Deal sources say the much-heralded late-year uptick in Australian dollar corporate deal flow could still eventuate though a changing market backdrop and the limited execution window could make corporate supply fall short of expectations once again.
Diverse investor base drives Deutsche Bahn’s Kangaroo return
A desire to further diversify its investor base coupled with appealing landed cost of funds prompted Deutsche Bahn’s return to the domestic Australian dollar market. The deal’s combination of extended duration and high-quality credit appealed to international investors, especially in Asia-Pacific and the UK.
Diverse Australian securitisation collateral a safe haven as volatility builds
The Australian dollar securitisation market has continued to offer issuance opportunities for originators of a wide range of collateral despite revived rates uncertainty and an uncertain geopolitical backdrop. Recent issuers from outside the prime mortgage sector note ongoing supportive liquidity, improving pricing conditions and a noteworthy level of domestic investor support.
Read more: Diverse Australian securitisation collateral a safe haven as volatility builds