ColCap prices $1.4 billion Triton 2024-1 RMBS

By February 22, 2024News

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ColCap Financial Limited (“ColCap”) is pleased to announce that it has successfully priced and settled its latest Residential Mortgage-Backed Security (“RMBS”), namely the $1.4 billion Triton 2024-1 issue which settles on 22 February.  

The transaction is noteworthy in that:  

  • It upsized from an initial $500 million to $1.4 billion. Significant investor demand was seen across all tranches. 
  • The 3 year weighted average life AAA tranche priced at 120bps, which is the lowest non-ADI RMBS pricing, for that type of tranche, in Australia in the past year. 
  • The transaction included a Green tranche of $140 million, being 10% of the transaction, to support carbon reduction building and renovation projects. 
  • The strong investor demand saw 41 investors in the transaction with approximately 50% of investors each from onshore and offshore. Offshore investors came from 8 countries, which is significantly higher than previous ColCap RMBS transactions. 
  • Real money investors comprised 48% of investors with the remaining investors being bank balance sheets. 

ColCap’s Co-Founder and Chief Executive Officer Andrew Chepul said “We are delighted by today’s successful RMBS issue and by the confidence both existing and new debt investors have once again shown in ColCap.” 

About ColCap 

ColCap is a privately owned leading non-bank lender specialising in prime residential mortgage lending. ColCap was founded in 2006 and currently has a loan portfolio in excess of $14.0 billion. 

ColCap lends primarily through: 

  • the Wholesale lending brand Origin Mortgage Management Services, which primarily services mortgage managers that offer white labelled mortgage loans; 
  • the Broker lending brand Granite Home Loans, which offers selected loan products to borrowers utilising aggregators and mortgage brokers; and    
  • the award-winning Retail lending brand Homestar Finance, which primarily offers mortgage loans direct to borrowers.  

ColCap is also a nascent residential mortgage lender in the United Kingdom through its subsidiary Molo Tech Limited (“Molo”), and a significant shareholder in Austrata Finance which is an innovative newly established provider of strata loans in Australia. 

Columbus Capital rebranded as ColCap with effect from September 2021.  

For further information
David Carroll (Treasurer)
Tel: +61 2 9273 8132