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 launches Series 2-2019 RMBS deal
On 20 May, Firstmac launched a new residential mortgage-backed securities (RMBS) deal, Firstmac Mortgage Funding Trust No.4 Series 2-2019. The forthcoming transaction has indicative total volume of A$500 million (US$344.7 million). ANZ is arranger and joint lead manager alongside J.P. Morgan, National Australia Bank, Standard Chartered Bank, United Overseas Bank and Westpac Institutional Bank.
Firstmac starts marketing Series 2-2019 RMBS deal
On 13 May, Firstmac began taking indications of interest for its potential residential mortgage-backed securities (RMBS) deal, Firstmac Mortgage Funding Trust No.4 Series 2-2019. The transaction has indicative total volume of A$500 million (US$349.5 million), with the potential to be upsized. ANZ is arranger for the transaction and joint lead manager alongside J.P. Morgan, National Australian Bank, Standard Chartered Bank, United Overseas Bank and Westpac Institutional Bank.
Expected ratings assigned to potential Firstmac RMBS deal
On 6 May, expected ratings were assigned by S&P Global Ratings and Fitch Ratings to Firstmac's potential residential mortgage-backed securities (RMBS) deal, Firstmac Mortgage Funding Trust No. 4 Series 2-2019 (Firstmac Series 2-2019). The deal has indicative total volume of A$500 million (US$348.8 million). ANZ, J.P. Morgan, National Australia Bank, Standard Chartered Bank, United Overseas Bank and Westpac Institutional Bank were mandated for the potential deal on 24 April.
Firstmac announces potential new RMBS deal
On 24 April, Firstmac revealed plans to meet investors, regarding a potential new Australian dollar denominated residential mortgage-backed securities (RMBS) deal. ANZ, J.P. Morgan, National Australia Bank, Standard Chartered Bank, United Overseas Bank and Westpac Institutional Bank have been mandated to arrange the meetings, beginning 6 May in Australia, followed by Tokyo, London and Singapore.
Better days for Australian securitisation
The Australian securitisation market is arguably in its best shape since the financial crisis – at least in the sense of the robustness of market infrastructure and diversity of participants on the issuer and investor sides. In November, a record number of delegates gathered in Sydney at Australian Securitisation 2018, the annual conference of the Australian Securitisation Forum, to discuss the state of play – and some of the looming challenges.
nonbank Yearbook 2018
KangaNews's third annual guide to the business and funding trends in Australia's nonbank financial-institution sector.