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.
On 21 February, Pepper Group (Pepper) mandated National Australia Bank for a refinancing of the Class A1-u2 notes from its PRS 20 residential mortgage-backed securities (RMBS) deal. The tranche has indicative volume of A$105.7 million (US$70 million), credit enhancement of 47.3 per cent and weighted average life of 1.8 years. The deal is expected to launch in the week beginning 9 March.
Nonmortgage securitisation for 2020 got under way in January with auto asset-backed securities (ABS) deals from Pepper Group (Pepper) and Liberty Financial (Liberty). Ongoing investor appetite for diversifying collateral in the sector buoyed demand, deal sources say.
On 20 January, Pepper Group (Pepper) launched its new auto and equipment asset-backed securities (ABS) transaction, Pepper SPARKZ Trust 2. Total capped volume for the deal is A$616.7 million (US$424.4 million), with pricing expected on 23 January. Bank of America, MUFG Securities, National Australia Bank, RBC Capital Markets, Societe Generale and Westpac Institutional Bank are joint lead managers.
On 16 January, Pepper Group (Pepper) began taking indications of interest for its new auto and equipment asset-backed securities (ABS) transaction, Pepper SPARKZ Trust 2. Total capped volume for the deal is A$618.5 million (US$427.2 million), according to National Australia Bank.