Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
Specialist lender successfully prices $300m RMBS

Specialist lender successfully prices $300m RMBS

A specialist lender for self-employed Australians has successfully priced its $300 million specialist RMBS transaction, after upsizing it from $250 million off the back of strong investor interest.

RedZed Lending Solutions Pty Limited, which acquired the business banking business from ME Bank in December 2016, priced its fourth RMBS issue on 30 March, with 12 investors participating in the transaction.

According to RedZed managing director Evan Dwyer, 95 per cent of the transaction comprises "real money accounts" and 15 per cent from offshore.

Advertisement
Advertisement

“This funding helps us continue to achieve our vision of being the lender of choice for self-employed customers in Australia, he said.

“We have extended our existing relationships and are delighted to build new relationships with investors across the capital structure.”

The arranger and joint lead manager, Ernest Biasi, who is executive director, debt markets securitisation at Commonwealth Bank of Australia, commented: “The transaction was successfully upsized with price tightening in the senior notes demonstrating ongoing investor support for RedZed and the specialist lending sector.”

Jonathan Mintz, joint lead manager on the transaction and associate director, securitisation originations at Capital Financing at NAB, added: “This transaction had strong support from RedZed’s existing investor base, and it was also very pleasing to see a number of new investors participate.

"Overall there were seven new investors involved in this deal, which is a great outcome for RedZed as they continue to broaden their capital markets investor base.” 

The transaction is due to settle on 6 April 2017.

[Related: Pepper breaks record with $900 RMBS transaction]

Specialist lender successfully prices $300m RMBS
mortgagebusiness

Annie Kane

Annie Kane is the editor of Mortgage Business.

As well as writing news and features on the Australian mortgage market, financial regulation, fintechs and the wider lending market – Annie is also a regular contributor to the Mortgage Business Uncut podcast.

Before joining Momentum Media in 2016, Annie wrote for a range of business and consumer titles, including The Guardian (Australia), BBC Music Magazine, Elle (Australia), BBC Countryfile, BBC Homes & Antiques, and Resource magazine.

Contact Annie at: This email address is being protected from spambots. You need JavaScript enabled to view it.

 

Latest News

The proportion of home owners considering an upsize has more than doubled over the past year, according to new Westpac research. ...

More than half of the population (54 per cent) have been negatively affected by misconduct among finance service providers, according to a...

The mandatory comprehensive credit reporting bill has been updated to include changes to the reporting of hardship arrangements, with stakeh...

FROM THE WEB
podcast

LATEST PODCAST: Acquisitions and evolution

Do you think the banking royal commission recommendations could negatively impact competition in the mortgage market?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.