News
Allied Credit’s latest asset-backed securities transaction more than doubles the size of its largest previous deal. The issuer says the deal is effectively the first of a new programme given it now carries two credit ratings and is European Securities and Markets Authority reporting compliant, factors that helped provide comfort to some offshore accounts that had previously not been able to participate.
Prospa’s ability to lengthen the lifespan of its loan originations allowed the issuer to adopt a more traditional closed-pool deal structure in its return to the securitisation market. Offering shorter weighted average life securities was positively received by domestic investors, the issuer reveals – but it adds that there is more work to be done to educate offshore accounts about Australian SME credit.
