News
On 16 October, Firstmac launched its residential mortgage-backed securities (RMBS) deal, Firstmac Mortgage Funding Trust No. 4 Series 3-2018 (Series 3-2018). The forthcoming transaction has indicative total volume of A$500 million (US$356.1 million) and is expected to price on or before 19 October.
Exclusive information from the KangaNews deal database covering capital-markets transactions by nonbank issuers profiled in the KangaNews Nonbank Yearbook 2018.
FlexiGroup offers a broad range of options to securitisation investors, including assets in Australia and New Zealand and a pioneering green issuance programme. Paul Jamieson, the firm’s Auckland-based group treasurer, and Bianca Spata, head of group funding in Sydney, update on developments.
Firstmac is an outlier in Australia’s nonbank sector thanks to its focus on prime mortgage lending and its expressed ambition to gain authorised deposit-taking institution (ADI) status. James Austin, chief financial officer at Firstmac in Brisbane, gives an update on the company’s strategic plan.
New Zealand’s securitisation market could be set to proliferate as regulatory moves to kick-start a bank market progress. Mark Mountcastle, chief executive at Avanti Finance (Avanti) in Auckland, says the environment is also beneficial for nonbank lenders.
Pepper Group (Pepper) is arguably the Australian nonbank lender with the deepest global presence, having operations in various Asian and European jurisdictions. The company’s Sydney-based group treasurer, Paul Byrne, explains how a global footprint requires funding diversity and the deployment of a range of business strategies.
Andrew Marsden, general manager, treasury and securitisation at Resimac in Sydney, discusses the firm’s growth ambitions, the consequences of becoming a listed company, and its engagement with securitisation sectors outside Australia – including in the emerging New Zealand market.
Australia’s commercial-property market is, in the main, performing well even as the residential sector goes through a correction. Jonathan Street, chief executive at Thinktank Commercial Property Finance (Thinktank) in Sydney, says the market and the lending opportunity it offers nonbanks make for an appealing combination.
Martin Barry, La Trobe Financial’s Sydney-based chief corporate treasurer, shares some views on the lender’s specialities and an unusual – and diversified – funding structure that takes the pressure off its securitisation programme.
The Australian property market is a constant headline producer, particularly when prices are in decline. The recent cooling of house prices, however, has – so far – been a desired outcome for regulators and market participants who were seeking a soft landing after an unprecedented period of growth.