http://www.ifrasia.com http://www.ifrasia.com http://www.ifrasia.com/magazine/graphics/logo.png http://www.ifrasia.com http://www.ifrasia.com/apra-jolts-aussie-rmbs-with-a-warning-on-sub-tranches/603906.article http://www.ifrasia.com/apra-jolts-aussie-rmbs-with-a-warning-on-sub-tranches/603906.article The Australian securitisation market’s rollercoaster ride continued at the end of August when the Australian Prudential Regulatory Authority announced that some of the country’s issuers had been wrongly claiming capital relief against the retained tranches of RMBS. Sat, 4 Sep 2010 00:00 GMT http://www.ifrasia.com/smart-move?-macquarie-abs-targets-us-investors- /596700.article http://www.ifrasia.com/smart-move?-macquarie-abs-targets-us-investors- /596700.article Macquarie Leasing, a division of Australia’s Macquarie Bank, shifted the structured finance market up a gear last week as it launched a A$661m-equivalent (US$577m) securitisation of Australian auto loans and leases. With nearly 75% of the deal denominated in US dollars, it is the first Australian auto-ABS to be targeted at US investors. Sat, 3 Jul 2010 00:00 GMT http://www.ifrasia.com/bnz-readies-new-zealand’s-first-covered-bond/593352.article http://www.ifrasia.com/bnz-readies-new-zealand’s-first-covered-bond/593352.article Bank of New Zealand is likely to tap the markets next week with an up to NZ$500m (US$342m) covered bond issue under a NZ$3bn programme. The deal, the first covered bond from New Zealand, is expected to receive a warm welcome from investors given it’s rarity value, BNZ’s name-recognition and the attractive underlying credit pool. Sat, 5 Jun 2010 00:00 GMT http://www.ifrasia.com/death-of-conduits-sees-courts-go-public-with-abs/584547.article http://www.ifrasia.com/death-of-conduits-sees-courts-go-public-with-abs/584547.article Electronics and furniture retailer Courts Singapore has completed what those involved are calling the first public consumer receivables securitisation in Singapore. Sat, 27 Mar 2010 00:00 GMT http://www.ifrasia.com/ascendas-pioneers-cb-with-cmbs-characteristics/584040.article http://www.ifrasia.com/ascendas-pioneers-cb-with-cmbs-characteristics/584040.article Necessity is the mother of invention and Singapore’s REIT sector is fast turning out to be a laboratory for capital markets instruments that push boundaries. Last week, Ascendas REIT raised S$300m (US$215m) through a path-breaking CB that could become a harbinger for more issuance to follow from the beleaguered S-REIT sector. Sat, 20 Mar 2010 00:00 GMT http://www.ifrasia.com/australia-eyes-a-reit-cb-with-keen-interest/584058.article http://www.ifrasia.com/australia-eyes-a-reit-cb-with-keen-interest/584058.article It is rare for Australian capital markets to look to Asia to blaze the trail, but last week’s S$300m (US$215m) seven-year put five CB for Singapore’s Ascendas REIT has snapped participants in the Aussie securitisation market out of their slumber. The innovative structure that sole bookrunner Citigroup employed on A-REIT’s CB could very well become a template for Aussie CMBS issuers and provide a ray of hope to a market that has not had much cause for opti Sat, 20 Mar 2010 00:00 GMT http://www.ifrasia.com/zhongsheng-stuns-market-with-steep-valuation/522810.article http://www.ifrasia.com/zhongsheng-stuns-market-with-steep-valuation/522810.article Zhongsheng Group, one of China’s largest auto dealer groups, immediately caught attention across the market last week as it started premarketing its IPO with an aggressive indicative valuation. BOC International, Morgan Stanley and UBS are the leads on the US$1bn Hong Kong float, with the domestic firm offering the most ambitious numbers. Sat, 27 Feb 2010 00:00 GMT http://www.ifrasia.com/china-bars-trusts-from-funding-land-reserves/583002.article http://www.ifrasia.com/china-bars-trusts-from-funding-land-reserves/583002.article The China Banking Regulatory Commission sent out a notice on February 12 ordering trust companies to stop funding the accumulation of land banks by PRC property developers. Domestic trust companies have channelled many billions of renminbi to cash-strapped PRC property companies via trust products, mostly quasi-securitisation deals, in the past two years. Sat, 27 Feb 2010 00:00 GMT