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Stockland’s latest transaction in the domestic market was anchored by a jumbo cornerstone bid that accounted for more than half the deal. Even so, more than 50 investors supported the issuer’s decision to offer a 10-year transaction – a duration not achieved by a property-sector issuer in Australian dollars since 2021.

Demand for Australian dollar securitisation in early 2024 allowed Athena to print its largest-ever volume in its return to residential mortgage-backed securities issuance. Athena says the origination environment is “still very competitive” but it remains comfortable in its own book growth: it expects to hit a target settlement volume of A$2.5 billion this year, facilitating this scale of capital markets issuance.