Nonbank mythbusting
The nonbank lending sector represents a significant portion of the Australian securitisation market. While the volume and frequency of deals indicates an increasing level of investor comfort with the sector, myths pertaining to nonbanks’ lending practices persist and could inhibit future funding growth.
ASF canvassing the market on IBOR reform
The Australian Securitisation Forum (ASF) is consulting with market participants on interest-rate benchmark reform as it relates to securitisation. The consultation comes amid accelerating global moves to adopt alternative reference rates and fallback language, and ongoing questions about the resilience of the Australian securitisation market’s most commonly used benchmark.
Opening the gates: Inside Wingate’s debut ABS deal
Wingate Consumer Finance (Wingate) printed its debut public asset-backed securities (ABS) transaction on 18 September. The issuer believes it is capitalising on a niche in Australia’s increasingly competitive lending market and now has the funding diversity to pursue its growth plans.
Pacific National deal shows encouraging signs for domestic market
Pacific National printed Australia’s largest 10-year corporate bond so far this year and the issuer’s largest in the domestic market on 18 September. Deal sources say the transaction makes clear once again that domestic support for 10-year corporate paper is available for issuers willing to test it.
Read more: Pacific National deal shows encouraging signs for domestic market
Global investor support for NZDM holds up
New Zealand Debt Management (NZDM) printed its first syndicated transaction in 18 months on 18 September, establishing a new May 2031 line. The deal was well-received according to the issuer, with nearly half of the transaction allocated to offshore accounts despite feedback that the relative value of New Zealand government bonds to other sovereigns has declined.