On 26 May, S&P Global Ratings and Fitch Ratings assigned preliminary ratings to Resimac's proposed residential mortgage-backed securities (RMBS) deal, Resimac Triomphe Trust - Premier Series 2020-2. The deal has indicative total volume of A$500 million (US$329.7 million). Resimac mandated Deutsche Bank, J.P. Morgan, National Australia Bank, Standard Chartered and Westpac Institutional Bank as lead managers for the potential transaction on 22 May.
On 22 May, Resimac mandated Deutsche Bank, J.P. Morgan, National Australia Bank, Standard Chartered and Westpac Institutional Bank to engage investors regarding a potential Australian dollar denominated, residential mortgage-backed securities deal from its Premier programme.
The disruption the accelerating COVID-19 crisis has sparked will test the resilience of the Australian securitisation market, even though risks to credit quality may be limited. Issuers may have to increase their usage of alternative funding options should the public market remain inaccessible for an extended period.
On 5 February, Resimac revealed plans for a potential prime residential mortgage-backed securities (RMBS) deal, including Australian dollar and US dollar tranches, from its Premier programme. Deutsche Bank, J.P. Morgan, MUFG Securities and National Australia Bank have been mandated to engage investors.
Australian Securitisation 2019 took place in Sydney on 18 and 19 November with market-leading commentary on the evolution of the securitisation market, including collateral, lending regulation and benchmark reforms. The Australian securitisation market is poised to enter the next decade in robust shape, reflected by a record registration for and attendance at the Australian Securitisation Forum’s annual conference.