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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12 Jun 2020

Firstmac reports car market is "recovering strongly" (Australian Broker)

New data from a non-bank lender has indicated the car market is “recovering strongly” after plummeting in April, with borrowers ready to begin buying cars again as the COVID-19 crisis has been largely contained within Australia.

In the month of May, Firstmac recorded a record number of car loan applications, with activity strengthening towards the second half of the month and continuing into June.

After taking just 721 car loan applications in March and 657 in April, Firstmac took 1,051 in May, setting a new monthly record.

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