Four year securitisation drought ends
Non-bank lender RESIMAC has completed a $150 million securitisation which will help it continue to grow in New Zealand.
Friday, September 26th 2014, 1:54PM
It is the first such RMBS transaction to occur in New Zealand since 2010.
RESIMAC says the deal is an important development and it will allow New Zealand investors to fund its local business. This also will continue to provide RESIMAC with funding stability and diversity.
“We are encouraged by the broad investor interest in New Zealand," RESIMAC chief commercial officer Allan Savins said. "This transaction confirms that the New Zealand securitisation market is operating to fund a diverse range of assets including mortgages.”
RESIMAC continues to push for greater market share in New Zealand and the key it says is its capacity to lend due to a diversified source of funding, “This latest announcement shows we are committed to investing in the New Zealand market for the long term. This deal will allow RESIMAC to continue to grow and continue to offer a competitive alternative to the New Zealand borrower,” Savins said.
| « Christmas comes early for RESIMAC brokers | Criteria for lifting LVR rules reviewed soon: Wheeler » |
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