Firstmac Announces Potential New RMBS Deal (Banking Day)

Firstmac has revealed plans to meet investors, regarding a potential new Australian dollar denominated residential mortgage-backed securities (RMBS) deal.
ANZ, J.P. Morgan, National Australia Bank, Standard Chartered Bank, United Overseas Bank and Westpac Institutional Bank have been mandated to arrange the meetings, beginning 6 May in Australia, followed by Tokyo, London and Singapore.

(subscription required)

View article here

Read more…

Recent articles

15 May 2015

Firstmac issues Australia's biggest non-bank RMBS since crisis

Firstmac Ltd. has priced A$1 billion ($805 million) of notes in the Australian-dollar market’s largest non-bank mortgage-bond deal since the global financial crisis.

The Brisbane-based lender, which funds online mortgage website loans.com.au, sold A$600 million of top class AAA rated notes at a spread of 98 basis points over the bank-bill swap rate, according to an e-mailed statement. It issued a further A$358 million of AAA rated notes at spreads ranging from 115 to 195 basis points, while the remaining A$42 million of securities carried lower credit scores or were held onto by the issuer.- Bloomberg Business- view article