ColCap Prices Final $1.2 Billion RMBS Transaction For 2025

ColCap Financial (ColCap), a leading Australian prime non-bank mortgage lender, has priced its latest residential mortgage-backed securities (RMBS) issue, the $1.2 billion Triton 2025-4.

The issue, upsized from $1.0 billion on the back of demand from international and local investors, was first announced on 21 November and is expected to settle on 11 December.

The issue, which is rated AAAsf by S&P and Fitch Ratings, is secured over a diversified portfolio of prime Australian mortgages, including green loans, self-managed super fund (SMSF) loans and loans secured by National Disability Insurance Scheme (NDIS) properties.

It is the first time in the Australian RMBS market that green and social tranches have been included as part of a single RMBS transaction.

An additional £300 million issue was completed in 2025 as part of the Molossus program in the UK.

Natixis CIB acted as Arranger and as a lead manager on the Triton 2025-4 issue, with additional lead managers Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corporation.

ColCap has introduced a Sustainability Finance Framework as part of its commitment to environmental, social, and governance (ESG) principles. The framework aligns with the International Capital Markets Association’s (ICMA’s) Green Bond Principles 2021, Social Bond Principles 2023, and Sustainability Bond Principles 2021, and was affirmed as credible, impactful and aligned with the ICMA’s Principles in a Second Party Opinion from Sustainalytics.