Powered by MOMENTUM MEDIA
realestatebusiness logo

Subscribe to our newsletter

Non-bank enters Japanese market with RMBS deal

Resimac has entered the Japanese capital markets with a $1-billion RMBS deal, which comprises the lender’s fourth transaction for 2020.

The non-bank lender has announced the financial close of Resimac Premier Series 2020-3, which is the first residential mortgage-backed securities (RMBS) transaction under its program to offer a yen-denominated tranche.

According to Resimac, this transaction (under which the yen denominated tranche is a Class A1 soft-bullet security type tranche) would form a part of its commitment to broader investor participation.

Commenting on the RMBS deal, Resimac group treasurer Andrew Marsden said: “This is a milestone transaction for Resimac. The inaugural yen securitisation creates new access to the Japanese capital markets and currency diversification, which is in line with our long-term funding strategy.”

Lead managers for Japanese yen included National Australia Bank (NAB), SMBC Nikko Capital Markets Ltd, and Sumitomo Mitsui Banking Corp.

Advertisement
Advertisement

Australian dollar joint lead managers included NAB, SMBC Nikko Capital Markets Ltd, Sumitomo Mitsui Banking Corp, Sydney Branch, and Standard Chartered Bank.

The latest RMBS transaction by Resimac has followed the pricing of its first transaction in the New Zealand market for 2020, where it priced a NZ$300 million ($282.3 million) prime and non-conforming RMBS transaction.

Resimac’s other deals in 2020 included a $1-billion non-conforming Bastille RMBS transaction in July and a $500-million prime RMBS transaction, which represented the first offering since the coronavirus pandemic.

[Related: Resimac issues NZ$300m RMBS]

Non-bank enters Japanese market with RMBS deal
var adTypesArray = { desktop: [4417], tablet: [4417], mobile: [4417], }; var zoneArray = [256196]; var kevelDivId = '#momentum-native2-zoneunit'; changePlacements(true, kevelDivId, adTypesArray, zoneArray, '', 'native-2-in-article');
>The non-bank lender has announced the financial close of Resimac Premier Series 2020-3, which is the first residential mortgage-backed securities (RMBS) transaction under its program to offer a yen-denominated tranche.

According to Resimac, this transaction (under which the yen denominated tranche is a Class A1 soft-bullet security type tranche) would form a part of its commitment to broader investor participation.

Commenting on the RMBS deal, Resimac group treasurer Andrew Marsden said: “This is a milestone transaction for Resimac. The inaugural yen securitisation creates new access to the Japanese capital markets and currency diversification, which is in line with our long-term funding strategy.”

Lead managers for Japanese yen included National Australia Bank (NAB), SMBC Nikko Capital Markets Ltd, and Sumitomo Mitsui Banking Corp.

Australian dollar joint lead managers included NAB, SMBC Nikko Capital Markets Ltd, Sumitomo Mitsui Banking Corp, Sydney Branch, and Standard Chartered Bank.

The latest RMBS transaction by Resimac has followed the pricing of its first transaction in the New Zealand market for 2020, where it priced a NZ$300 million ($282.3 million) prime and non-conforming RMBS transaction.

Resimac’s other deals in 2020 included a $1-billion non-conforming Bastille RMBS transaction in July and a $500-million prime RMBS transaction, which represented the first offering since the coronavirus pandemic.

[Related: Resimac issues NZ$300m RMBS]

Non-bank enters Japanese market with RMBS deal
Non-bank enters Japanese market with RMBS deal
mortgagebusiness

Malavika Santhebennur

Malavika Santhebennur is the features editor on the mortgages titles at Momentum Media.

Before joining the team in 2019, Malavika held roles with Money Management and Benchmark Media. She has been writing about financial services for the past six years.

Latest News

The major bank has said that a change in government did not currently necessitate a change to its economic forecast nor its interest rate ex...

The new federal Treasurer Jim Chalmers has set out Labor’s first priorities for the “tricky” economy. ...

The major banking group has confirmed that its acting head of mortgage technology has accepted a long-term position. ...

VIEW ALL

Join Australia's most informed brokers

Do you know which lenders are providing brokers and their customers with the best service?

Use this monthly data to make informed decisions about which lenders to use. Simply contribute to the survey and we'll send you the results directly to your inbox - completely free!

What is the maximum proportion of income borrowers should use to service a mortgage?

Website Notifications

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