The Australian market saw the pricing of a pair of green-labelled, consumer-finance asset-backed securities (ABS) on the same day – 22 October – in the middle of the local securitisation market’s busiest week of the COVID-19 era. Deal sources say the execution process allowed the deals to come in the hectic week, and that the green element was additive to demand.
On 20 October, Brighte launched its inaugural asset-backed securities (ABS) deal, Brighte Green Trust 2020-1. The capped A$190 million (US$134 million) transaction is backed by green-certified consumer-loan receivables and is expected to price on 22 October. National Australia Bank is arranger.
On 21 September, Brighte Capital mandated National Australia Bank to engage investors regarding a potential Australian dollar denominated, asset-backed securities (ABS) transaction from its green trust programme. The programme comprises Australian unsecured green consumer loan receivables.
Australian Securitisation 2019 took place in Sydney on 18 and 19 November with market-leading commentary on the evolution of the securitisation market, including collateral, lending regulation and benchmark reforms. The Australian securitisation market is poised to enter the next decade in robust shape, reflected by a record registration for and attendance at the Australian Securitisation Forum’s annual conference.
Supportive lenders, a commitment to high standards of governance from day one and appetite for high-quality assets have allowed Brighte to fast-track a public capital-markets debut that now looks likely to happen in 2020. The company has committed to provide green securities to the securitisation market and is exploring options for certification and assessment of its asset pool.
nonbank Yearbook 2020
KangaNews's fourth annual guide to the business and funding trends in Australia's nonbank financial-institution sector.