Latitude Finance Australia (Latitude) upsized its most recent master-trust asset-backed securities (ABS) transaction on the back of demand that was especially supportive for lower-rated notes, the issuer says. Its next goal is further to diversity its investor base, a task it hopes will be assisted by the increasing breadth of the Australian dollar securitisation market.
As part of its goal of developing global investor engagement with Australasian asset-backed securities, the Australian Securitisation Forum hosts an annual showcase in London. Taking place on 10 June this year, the event attracted a raft of institutional investors to hear more about the Australian housing market and securitisation product.
The New Zealand securitisation market welcomed a new entrant on 6 December when Latitude Financial Services (Latitude) priced its inaugural New Zealand dollar asset-backed securities (ABS) deal. The deal’s domestic focus provided insulation from external market forces according to deal sources, who add that there is growing enthusiasm for securitised product among local buyers.
On 3 December, Latitude Financial Services (Latitude) launched its minimum NZ$200 million (US$138.2 million) asset-backed securities (ABS) deal, Latitude New Zealand Credit Card Master Trust (CCMT) Series 2018-1. Bank of America Merrill Lynch is arranger for the deal, and joint lead manager alongside Deutsche Bank and Westpac New Zealand.