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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30 Mar 2020

RMBS freeze melts for Firstmac (Banking Day)

In the first mortgage-backed funding in a month, Firstmac on Friday completed a A$1 billion RMBS raising. The Australian Office of Financial Management invested $189.1 million across six tranches of the Firstmac Series 1-2020 bond.

Approximately 81 per cent of the transaction was placed with institutional investors across the transaction structure. Investors to the transaction participated from United Kingdom, Asia, together with domestic Australian domiciled institutions.

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