Angle Auto Finance
Market dynamics and collateral outlook support Australian securitisation’s offshore value proposition
An annual investor update in London found the Australian securitisation market – and key European investors – in confident mood despite a complex domestic economic backdrop. Market participants describe a resilient collateral environment and ongoing positive capital market conditions that they believe should linger for the medium term at least.
Securitisation builds an audience for its diversity story
The Australian Securitisation Forum’s 2023 annual conference attracted a record number of delegates – well over a thousand attended – and offered its most wide-ranging agenda ever. The securitisation industry has navigated higher rates and increasing global uncertainty well to date, with record volume printing in 2023 and a notable uptick in collateral diversity. The road ahead may be tricky but the market is facing it with confidence.
Diverse Australian securitisation collateral a safe haven as volatility builds
The Australian dollar securitisation market has continued to offer issuance opportunities for originators of a wide range of collateral despite revived rates uncertainty and an uncertain geopolitical backdrop. Recent issuers from outside the prime mortgage sector note ongoing supportive liquidity, improving pricing conditions and a noteworthy level of domestic investor support.
Autos proliferate
The Australian auto lending market is undergoing a similar structural shift to that experienced by the nonprime mortgage lending market a few years ago: a wide-scale withdrawal by bank balance sheets and a proliferation of new and existing nonbank lenders. Auto-backed securitisation issuance is booming as a result.
Nonbank issuer profiles and perspectives 2023
Key data and information on 33 nonbank lenders active in Australia and New Zealand including programme information, funding strategy, debt data and issuer insights.
Securitisation flow bounces back – and keeps bouncing
Coming off the back of difficult issuance conditions and narrow demand in 2022, the Australian securitisation market that met the new year’s first wave of deals provided more positive transaction outcomes. Even more reassuringly for market participants, deal flow continued as volatility surged in late March.
