Triton 2021-2 RMBS is ColCap’s equal largest and lowest-priced RMBS to date
ColCap (formerly Columbus Capital), a leading non-bank prime lender specialising in Australian residential mortgage lending, today announced the pricing of its latest prime residential mortgage-backed security (“RMBS”), known as Triton 2021-2.
At $1.5 billion, the transaction equals ColCap’s largest issuance to date and with the 3 year tranche priced at just 70 basis points above the one-month Bank Bill Swap Rate (BBSW), it is the lowest price ever achieved by a non-ADI issuer for a tranche of equivalent tenor.
The transaction generated strong local and international demand, including from major banks and institutional investors. That it closed significantly oversubscribed reflects continued investor confidence in ColCap’s high-quality asset portfolio and ColCap’s strong momentum in the Australian RMBS market, where the Company has a 14-year track record.
The transaction is ColCap’s 21st prime RMBS issuance and takes the Company’s total issuance to over $12 billion, with $5.8 billion issued since the beginning of 2020. This includes two world-first RMBS: one consisting of 100% self-managed super fund-borrowers, and another award-winning 100% non-resident borrower RMBS.
ColCap CEO, Andrew Chepul said: “We were pleased to see such strong and continued demand for our latest RMBS issuance, which was ColCap’s equal largest and lowest-priced to date. ColCap remains one of Australia’s fastest-growing non-bank prime lenders, and this $1.5 billion issuance – which takes our total prime RMBS issuance to over $12 billion in our 14-year history – has us very strongly positioned for further growth in 2021.”
ColCap Treasurer, David Carroll said: “The strong demand for ColCap RMBS issuance is further evidence that investors remain highly confident in the quality of the assets underpinning our Triton RMBS programme and our strong track record in the Australian RMBS market.”
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This article was originally written and featured by Peter Brookes and Ryan Thompson of Citadel-MAGNUS
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ColCap (formerly Columbus Capital) is a leading non-bank financial institution specialising in Australian prime residential mortgage lending and trust management.
Founded in 2006, ColCap is an Australian-owned company that lends in Australia primarily through its wholesale lending brand Origin Mortgage Management Services, which services mortgage managers; and its online direct to consumer retail home loan brand Homestar.
ColCap currently has a prime residential mortgage portfolio of more than $7 billion and has successfully issued over $10 billion of RMBS in its 14-year history.
Homestar Finance has an excellent range of home loan products which have received recognition from some of the leading industry rating platforms such as Canstar and Mozo, as well as the following awards from RateCity in 2021:
- Best Home Loan for the product Star Essentials Home Loan
- Best Home Loan over $1 million for the product Owner Occupied Home Loan
- Best Investor Home Loan for the product Investment Property Home Loan
- Best Refinance Home Loan for the product Star Gold Home Loan
- Best 3 Year Fixed P&I for the product Star Classic Owner Occupied Fixed Special
- Best 3 Year Investor Fixed P&I for the product Star Classic Investment Fixed Special
This article is not intended as legal, financial or investment advice and should not be construed or relied on as such. Before making any commitment of a legal or financial nature you should seek advice from a qualified and registered Australian legal practitioner or financial or investment advisor.