In the wake of the first nonbank securitisation deal of 2018, issued by Bluestone Group (Bluestone) on 20 February, issuer and lead managers insist investor appetite remain robust. They say that after a bumper year of issuance in 2017, the sector is primed to build on last year’s momentum.
The Australian Office of Financial Management (AOFM) completed its 11th and final residential mortgage-backed securities (RMBS) divestment auction on 22 February, with the securities sold representing the remainder of the portfolio. The total amortised face value sold was A$312.8 million (US$244 million) from five tranches originally issued by Bendigo and Adelaide Bank, ING and ME Bank.
On 21 February, Pepper Group (Pepper) disclosed plans to meet with investors regarding a possible nonconforming residential mortgage-backed securities (RMBS) transaction. Citi, Commonwealth Bank of Australia, National Australia Bank and Westpac Institutional Bank will arrange the meetings.