Total securitization issuance in Australia for the second quarter has already topped A$20 billion ($14.8 billion) - the single biggest quarter on record. With an estimated A$4.6 billion to be settled before the end of June, the record will be pushed even further. And as most deals this year have been upsized due to investor demand, issuance could even reach A$25 billion.
Not surprisingly, RMBS continues to dominate. Quarterly RMBS volumes have so far reached A$18.2 billion, itself a record for the asset class. Four transactions - by St. George Bank, Adelaide Bank, Heritage Building Society and Bluestone Group - either closed or were due to price as of press time.