Non-bank closes $750m RMBS

Homeloans’ wholly owned subsidiary, RESIMAC Limited, has announced the financial close of a $750 million Premier Series RMBS transaction, its first RMBS settlement in 2018.

The RMBS is made up of nine tranches, valued at US$210 million, AU$288.75 million, AU$50 million, AU$62.5 million, AU$47.25 million, AU$11.25 million, AU$7.50 million, AU$6 million and AU$3 million.

NAB and Citigroup Global Markets acted as USD co-arrangers, with NAB also acting as AUD note arranger and joint lead manager.

Westpac and Citigroup Global Markets also acted as joint lead managers, with capital markets group MUFG Securities acting as an AUD co-arranger.

Earlier this year, Homeloans Group reported a net profit after tax (NPAT) of $12.9 million in the six months leading to December 2017, up by 57.3 per cent from the previous period.

The group partly attributed the growth to increased offerings from RESIMAC’s capital markets programs, with three public RMBS deals raising $1.7 billion during the half.

[Related: Non-bank posts strong growth following merger]