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SocietyOne’s debut public asset-backed securities prioritised transaction quality and execution certainty over volume, according to the borrower. The nonbank lender joins a growing cohort of personal-loan originators in the term securitisation market, and says it plans to increase volume in subsequent deals.
Commonwealth Bank of Australia ventured to the US dollar market for its first term benchmark transaction since January 2020. The issuer says managing its maturity profile was a key reason for returning to term funding, even as deposit growth remains robust.
National Australia Bank says its decision to tap the sterling market for tier-two paper – just the second transaction from an Australian bank in this market since the finalisation of Australian bank capital rules – supports the opening of an important pool of additional-capital funds in the runup to the new capital rules’ 2024 deadline.
