Firstmac completes $1.3bn RMBS raising (Australian Broker)

Non-bank lender Firstmac Limited has announced its completion of a $1.3 billion RMBS raising, with over $2 billion in orders.

In a statement, Firstmac said that the issue was oversubscribed “from an early stage” and was supported by 31 institutions.

The roadshow for the RMBS issue was the first to be done entirely online, as COVID-19 travel restrictions made the usual face-to-face meetings throughout Europe, Asia, and the US impossible.

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27 Apr 2020

Firstmac buys another 'category killer' (Banking Day)

Firstmac has acquired car loan broker Carloans.com.au and car-buying service Georgie from ASX-listed Eclipx.

Firstmac will pay A$2 million, with $400,000 up front, with $1.6 million in quarterly instalments beginning in December.

Managing director Kim Cannon said the acquisition would support Firstmac’s continued rapid growth and complement its existing brands while helping it expand its car loans business over time to match its successful home loan operation.

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