On 21 May, ME Bank began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, SMHL Series Securitisation Fund 2019-1 (SMHL 2019-1). The transaction has indicative total volume of A$750 million (US$516 million) with the potential to upsize, and is expected to launch in the week commencing 27 May.
ME Bank revealed plans for a new residential mortgage-backed securities (RMBS) deal, from its SMHL programme on 13 May. ANZ, Commonwealth Bank of Australia, MUFG Securities, National Australia Bank and Westpac Institutional Bank have been mandated to engage investors for the transaction.
On 9 May, expected ratings were assigned by S&P Global Ratings and Moody's Investors Service to AMP Bank's residential mortgage-backed securities (RMBS) deal, Progress 2019-1 Trust. The deal has indicative total volume of A$750 million (US$523.1 million). ANZ, Commonwealth Bank of Australia, Deutsche Bank, MUFG Securities and National Australia Bank were mandated for the deal on 3 May.
According to senior executives at MUFG Bank (MUFG), appetite for Australian assets from Japanese and Asian investors has shown no sign of slowing. The range of funding markets open to corporate Australia continues to expand as a result, with the burgeoning Samurai loan market a particular focus for the bank.
On 3 May, AMP Bank mandated ANZ, Commonwealth Bank of Australia, Deutsche Bank, MUFG Securities and National Australia Bank to engage investors regarding a potential Australian dollar denominated residential mortgage-backed securities (RMBS) transaction from the bank’s Progress programme.
MUFG Bank Auckland Branch (MUFG Auckland) priced its inaugural New Zealand dollar deal on 27 March. A growing New Zealand dollar balance sheet led to the decision to seek domestic funding, according to the issuer, while leads insist the credit occupies an attractive space in New Zealand’s financial-institution (FI) landscape.