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 Mar 2020

First week of QE notches up $21bn for cheaper borrowing (Australian Financial Review)

The Reserve Bank has spent $21 billion in the country's first week of quantitative easing in an effort to reduce borrowing costs for companies and the government, and to restore order to a huge selloff in bond markets.

Queensland-based Firstmac was the first beneficiary of the government’s $15 billion Structured Finance Support Fund to provide support to non-bank lenders.

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