Australia’s securitisation market has maintained deal volume at a level in line with outcomes from recent years despite massive upheaval to the supply and demand picture in 2020. In particular, bank issuers have been all-but absent this year. A particularly active September and October for new issuance kept annual volume robust.
An earlier than typical start to Australian securitisation deal flow in 2024 has allowed issuers to take advantage of largely supportive conditions on the buy side. In particular, pricing on mezzanine tranches continues to move tighter – as evidenced by the latest addition to Columbus Capital’s Triton programme.