Macquarie eyes short legal maturities as investor hook
Australian investors cannot get enough of asset backed securitisation in their search for shorter tenors and Macquarie Bank is set to become the latest issuer after launching a A$300m securitisation of auto and equipment leases on Thursday.
Macquarie is arranging the transaction from its Smart programme, with ANZ, JPMorgan Australia and RBS Australia as joint lead managers. Structured finance investors have recently been pushing for short dated tenors in both ABS and RMBS deals, and Macquarie hopes the shorter legal maturity will attract investors.
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