Anyone see this? "Non-bank lender MoneyMe turbocharges growth...

Anyone see this?

"Non-bank lender MoneyMe turbocharges growth with ABS

Nigel Bradshaw, group treasurer and chief investment officer at MoneyMe, has spent the last few weeks speaking with European investors on a non-deal roadshow, and interest is clearly building. Bradshaw said European and UK investors are paying more attention to Australian ABS now because their home markets have slowed down. But demand for securitised assets is still strong, so they’re looking to Australia to fill that gap.“The growth of non-bank lenders in the Australian market is leading to increased issuance volumes, and larger deal sizes in car and asset finance, providing access to asset classes that traditionally have been controlled by the banks,” Bradshaw said. That’s a key shift. In addition to stable macroeconomic and regulatory environment, Bradshaw said the Australian ABS market offers relatively strong returns for international investors.“Higher interest rates in Australia relative to their home markets create attractive yields and add to the appeal”. Where once MoneyMe relied mostly on local funding, it’s now tapping into global demand to access cheaper and more scalable capital. MoneyMe completed its first auto loan ABS late last year, with strong international investor interest in the $517.5 million deal.“55% of the externally placed notes were allocated to new offshore investors, which is essentially unheard of for a debut deal,” Bradshaw said. MoneyMe has grown its loan book to beyond $1.5bn, with confidence to double that and more in the coming years by expanding both existing and new products." - Link