Resimac Group Ltd Settles A$1B Prime RMBS as Third 2026 Bond Issue
Resimac settles A$1 billion prime RMBS transaction, its third bond issuance of 2026
Resimac Group (ASX:RMC) has settled a A$1 billion prime residential mortgage-backed securities (RMBS) transaction, named Resimac Premier 2026-2. The deal marks the non-bank lender’s third bond issuance for the 2026 calendar year.
The benchmark senior tranche priced at 108 basis points over 1-month BBSW, with strong real money investor participation from both domestic and offshore accounts. The transaction has settled.
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Inside the A$1 billion bond structure
The transaction comprised nine classes of bonds totalling A$1,000.00 million. The senior tranches, Class A1, A2 and AB, all carried expected ratings of AAA (sf) / AAAsf from S&P and Fitch respectively.
The transaction comprised nine classes of bonds across the structure, as detailed in the table below.
| Class | Issuance amount (A$m) | Expected ratings (S&P/Fitch) | Coupon 1M BBSW + | WAL (yrs) |
|---|---|---|---|---|
| A1 | 140.00 | AAA (sf) / AAAsf | 0.75% | 0.6 |
| A2 | 760.00 | AAA (sf) / AAAsf | 1.08% | 2.9 |
| AB | 50.00 | AAA (sf) / AAAsf | 1.25% | 4.4 |
| B | 24.00 | AA (sf) / NR | 1.45% | 4.4 |
| C | 14.50 | A (sf) / NR | 1.65% | 4.4 |
| D | 4.00 | BBB (sf) / NR | 1.85% | 4.4 |
| E | 4.00 | BB (sf) / NR | 3.00% | 4.4 |
| F | 1.50 | B (sf) / NR | 4.15% | 4.4 |
| G | 2.00 | NR / NR | ND | 4.4 |
| Total | 1,000.00 | – | – | – |
The deal syndicate comprised the following institutions:
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Arranger: National Australia Bank Limited
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Joint Lead Managers: Barclays Bank PLC, Deutsche Bank AG, United Overseas Bank
What is an RMBS transaction and why it matters
The senior tranche priced at 108 basis points over 1-month BBSW.
Resimac has access to a diversified funding platform with multiple warehouse lines provided by domestic and offshore banks for short-term funding in addition to a global securitisation program to fund its assets longer term.
Funding strength behind the investment case
The transaction sits within a broader funding platform of considerable scale. According to the company, Resimac Group’s operating figures include:
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Home loan portfolio on balance sheet of over $13.6 billion
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Asset finance portfolio of over $2.1 billion
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Total assets under management of almost $16 billion
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Over 100,000 customers and over 400 people operating across Australia, New Zealand and the Philippines
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Over $54 billion in bonds issued in domestic and global markets since 1987
The transaction attracted strong investor demand from both domestic and offshore accounts. Resimac has access to a diversified funding platform with multiple warehouse lines provided by domestic and offshore banks for short-term funding in addition to a global securitisation program to fund its assets longer term.
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What this means for Resimac shareholders
The transaction is Resimac’s third bond issuance for the 2026 calendar year, with strong real money investor participation from domestic and offshore accounts.
Transaction contacts
Andrew Marsden, Chief Treasury Officer, and Pete Lirantzis, CEO, were listed as the contacts for the transaction. The release was authorised by the Resimac Group Company Secretary.
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