Australia’s securitisation market has maintained deal volume at a level in line with outcomes from recent years despite massive upheaval to the supply and demand picture in 2020. In particular, bank issuers have been all-but absent this year. A particularly active September and October for new issuance kept annual volume robust.
Resimac announced plans for a dual-currency residential mortgage-backed securities (RMBS) deal, Premier Series 2021-1, on 24 February. Citi, National Australia Bank and MUFG Securities are lead managers on both the Australian dollar and US dollar denominated tranches, while Deutsche Bank joins as lead manager on the former.
Western Australian Treasury Corporation (WATC) (AA+/Aa1) launched a new October 2030, Australian dollar denominated, syndicated, benchmark transaction on 24 February. Indicative price guidance for the deal is 5-8 basis points area over the 10-year futures contract, equivalent to 19-22 basis points area over Australian Commonwealth government bond.
On 19 February, Western Australian Treasury Corporation (WATC) (AA+/Aa1) revealed plans for a new October 2030, syndicated, domestic, benchmark transaction. The deal is expected to launch in the week beginning 22 February, according to lead managers ANZ, BofA Securities, Deutsche Bank and National Australia Bank.