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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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Morning Briefing: Non-bank offers ‘fastest ever’ 2-week settlement guarantee

Non-bank lender Firstmac is offering a two-week settlement guarantee to broker clients, which it says is a response to broker feedback for faster turnaround from lenders with a set time frame to manage customer expectations.

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