News
On 11 September, Macquarie Bank (Macquarie) began taking indications of interest for its residential mortgage-backed securities (RMBS) deal, Puma Series 2019-1. The deal is expected to launch and price in the week beginning 16 September. ANZ, Commonwealth Bank of Australia, Macquarie, National Australia Bank and Westpac Institutional Bank are joint lead managers.
Latitude Finance Australia (Latitude) upsized its most recent master-trust asset-backed securities (ABS) transaction on the back of demand that was especially supportive for lower-rated notes, the issuer says. Its next goal is further to diversity its investor base, a task it hopes will be assisted by the increasing breadth of the Australian dollar securitisation market.
Commonwealth Bank of Australia (CommBank) printed its first tier-two capital deal since the confirmation of Australian total loss-absorbing capital (TLAC) requirements in the form of a US dollar deal priced on 5 September. CommBank is the last of the major banks to make a start on upsizing its tier-two stack but the issuer says it is well set to manage the task.
On 10 September, Wingate Consumer Finance (Wingate), trading as NOW FINANCE, began taking indications of interest for its personal loans asset-backed securities (ABS) deal, Now Trust 2019-1. Indicative total volume for the transaction is A$200 million (US$137.2 million), and is expected to launch in the week beginning 16 September. National Australia Bank is arranger.