Firstmac

Tuesday, 13 October 2020
Oct/Nov 2020 Nonbank supplement

Australian nonbanks' song remains the same

Every year, KangaNews hosts Australia’s leading nonbank lenders at a sector roundtable discussion – supported since 2019 by Natixis. In keeping with the unique circumstances of 2020, this year’s roundtable was conducted via videoconference. While market conditions have changed dramatically in the past 12 months, the sector is able to tell the same story of solid funding foundations and sound credit quality.

Tuesday, 20 October 2020

Firstmac launches RMBS deal with yen tranche

Firstmac launched its capped A$1 billion (US$705.1 million) equivalent prime residential mortgage-backed securities (RMBS) deal, Firstmac 2020-3, on 20 October. The deal is in Reg-S format and includes a senior Japanese yen tranche. Pricing is expected on 22 October, according to co-arrangers and joint lead managers, J.P. Morgan and National Australia Bank.

Thursday, 15 October 2020

Firstmac taking indications of interest for Reg S RMBS deal

On 15 October, FIrstmac began taking indications of interest for its Reg S, dual-currency residential mortgage-backed securities (RMBS) deal, Firstmac 2020-3. Total capped volume for the transaction, which is expected to launch in the week beginning 19 October, is A$1 billion (US$713.1 million) equivalent. J.P. Morgan and National Australia Bank are arrangers and lead managers for the deal.

Monday, 12 October 2020

Firstmac exploring Reg S RMBS deal

On 12 October, Firstmac mandated J.P. Morgan and National Australia Bank to engage investors regarding a potential Reg S, prime residential mortgage-backed securities (RMBS) transaction.

Tuesday, 06 October 2020

TFF volume meets initial allowance but credit demand still soft

Authorised deposit-taking institutions (ADIs) picked up their usage of the Reserve Bank of Australia (RBA)’s term funding facility (TFF) before its cut-off date on 30 September, eventually subscribing for almost all their original allowance. While the RBA says the scheme is achieving its goal at least some market participants are concerned about its distortionary effect.

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