RedZed prices its 5th RMBS – RedZed

RedZed prices its 5th RMBS


By November 30, 2017

RedZed Lending Solutions Pty Limited (‘RedZed’) has successfully priced its AUD$250m specialist RMBS transaction “RedZed Trust Series 2017-2”.

This was RedZed’s fifth such issue and following the pricing of 2017-1 earlier this year marked total issuance in 2017 of $550m,” said Evan Dwyer, Managing Director of RedZed. “We appreciate our relationships with investors and I’m pleased our focus on self-employed borrowers continues to generate demand.”

Moody’s assigned preliminary ratings. The $150.00m Class A-1 Notes and the $56.50m Class A-2 Notes are all rated Aaa(sf). The $23.75m Class B Notes, the $4.75m Class C Notes, the $4.75m Class D Notes, the $4.25m Class E Notes and the $2.50m Class F Notes are assigned preliminary ratings of Aa2(sf), A2(sf), Baa2(sf), Ba2(sf) and B2(sf), respectively, with the offering completed by $3.50m of unrated Class G notes.

“Being RedZed’s second RMBS deal for the year, it was pleasing to see continued support from a loyal investor base, and RedZed enjoying favorable market conditions” said Jonathan Mintz, Director, Securitisation Originations, Capital Financing at National Australia Bank Limit (Arranger and Joint Lead Manager).

“The Class A1 and Class A2 Notes tightened 20bps and 25bps respectively when compared to RedZed Trust Series 2017-1 in March 2017 demonstrating continued investor support for RedZed and the specialist lending sector” said Ernest Biasi, Executive Director Debt Markets Securitisation at Commonwealth Bank of Australia (Joint Lead Manager).

The transaction is due to settle on December 6 2017.


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