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La Trobe prices $250m RMBS issue

La Trobe Financial has announced pricing for the group’s second RMBS issue, following on from its private placement in 2014.

The $250 million issue, La Trobe Financial Capital Markets Trust 2015-1, was priced with the help of CBA as lead manager.

La Trobe Financial’s chief wealth management officer, Martin Barry, said the transaction represents the group’s first public RMBS issue, and was very pleased with the warm reception from the investor community.

“We are delighted to welcome many new investors to La Trobe Financial and look forward to building on these relationships,” he said.

Ryan Harkness, La Trobe Financial’s head of debt capital markets said the level of support offered by investors across the entire capital structure demonstrates a high level of confidence in La Trobe, “and is reflective of the quality of the credit and strong servicing processes underpinning the portfolio of assets issued”.

CBA’s head of debt markets securitisation, Rob Verlander, said the transaction further broadens the investor base for La Trobe’s capital raising program, and demonstrates that the market continues to support new issuers in the specialist mortgage sector.

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