RedZed Lending Solutions
In the wake of its second residential mortgage-backed securities (RMBS) transaction of 2017, Evan Dwyer, managing director at RedZed Lending Solutions (RedZed) in Melbourne, gives KangaNews an issuer update as book growth makes the company a more frequent visitor to the securitisation market.
Despite the impact of COVID-19 on the commercial property market, deal sources say RedZed Lending Solutions’ inaugural commercial mortgage-backed securities (CMBS) transaction was welcomed by investors in an improving environment for securitisation issuance.
On 17 June, RedZed Lending Solutions launched its commercial mortgage-backed securities (CMBS) deal, RedZed Trust STC Series 2020-1. Capped total volume for the forthcoming transaction, which is expected to price on the day after launch, is A$300 million (US$206.1 million). Commonwealth Bank of Australia is arranger and lead manager.
On 17 June, S&P Global Ratings assigned expected ratings to RedZed Lending Solutions commercial mortgage-backed securities (CMBS) deal, RedZed Trust STC Series 2020-1. Indicative total volume for the potential deal is A$300 million (US$206.2 million).
Key data and information on 13 nonbank lenders active in Australia and New Zealand, including programme information, funding strategy, debt data and issuer insights.