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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26 Apr 2020

Firstmac sets out to capitalise on pandemic fallout on economy (The Australian)

Non-bank lender Firstmac wants to use the economic downturn to pounce on growth opportunities, after acquiring car-loan broker and vehicle-buying service Georgie.

Firstmac managing director Kim Cannon said the company was taking a positive approach to business to ensure it emerged out the other side with an even stronger business.

“We are using this time to redeploy our staff on to new projects, invest in the future, and rebuild our company to face the challenges of the post COVID-19 economy,” Mr Cannon said.

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