Canberra takes a bond ‘step change’ (The Australian)

The AOFM has started operating the $15bn Structured Finance Support Fund to help smaller lenders access funding during a period of market dislocation. Further detail on the fund provided on Tuesday evening said it was available to non-bank lenders and authorised deposit-taking institutions that did not have the collateral required to tap the RBA’s $90bn funding facility for banks. The AOFM will seek to invest in packages of loans — that are securitised — to assist smaller lenders while also considering making investments in warehouse facilities. On Friday, the AOFM started the operation of the structured fund, by investing $189m across six tranches of Firstmac’s $1bn mortgage bond.

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12 Dec 2019

Firstmac completes $1.1bn RMBS (Mortgage Business)

Non-bank lender Firstmac has completed a residential mortgage-backed securities issuance of $1.1 billion, bringing the total amount raised by the company this year to $3.5 billion.

The total amount raised in 2019, $3.5 billion, amounts to 29 per cent of the company’s total balance sheet.
 
Managing director Kim Cannon stated that the results of the latest deal, Firstmac’s fourth transaction in 2019, demonstrated high investor confidence in its loan book.

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