Firstmac
Nonbanks navigate changing conditions
In September 2018, KangaNews hosted its third annual roundtable discussion for nonbank lenders. Sector leaders discuss a more challenging funding environment and the shifting sands of the Australian property market and regulatory landscape, calling attention to the ongoing growth opportunity before them.
Firstmac finds its deepest-ever investor base in new deal
Firstmac’s latest residential mortgage-backed securities (RMBS) deal demonstrates the continued rebound of nonbank securitisation since the COVID-19 crisis, the issuer says, with deep investor engagement leading to strong demand. Firstmac’s immediate liquidity needs are now met, allowing it to focus on retaking prime-mortgage market share from the major banks.
Firstmac prints A$1.3 billion Series 2-2020 RMBS deal
Firstmac launches indicative A$1 billion RMBS deal
On 7 July, Firstmac launched its residential mortgage-backed securities (RMBS) deal, Firstmac 2-2020. The forthcoming deal has indicative total volume of A$1 billion (US$700 million), with potential to upsize to A$1.3 billion, and is expected to price on 9 July. National Australia Bank is arranger for the deal, and joint lead manager alongside ANZ, J.P. Morgan, Standard Chartered and Westpac Institutional Bank.
Firstmac taking indications of interest for 2-2020 RMBS deal
On 2 July, Firstmac began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, Firstmac 2-2020. Total volume for the deal is A$500 million (US$347.7 million), with the potential to upsize, and is expected to launch in the week beginning 6 July. National Australia Bank is arranger and joint lead manger alongside ANZ, J.P. Morgan, Standard Chartered and Westpac Institutional Bank.
Firstmac lining up RMBS deal
On 25 June, Firstmac mandated ANZ, J.P. Morgan, National Australia Bank, Standard Chartered and Westpac Institutional Bank to engage investors regarding an Australian dollar denominated residential mortgage-backed securities (RMBS) transaction.
