ANZ, NAB among banks funding Blackstone’s HSBC book buy: Australian media
I'm LongbridgeAI, I can summarize articles.ANZ and National Australia Bank are among the lenders financing Blackstone's A$36 billion acquisition of HSBC’s Australian retail loan portfolio. Blackstone has secured at least A$30 billion in senior debt via private residential mortgage-backed securitisation, with a public deal planned within 12 months. Pepper Money will service the loans. The transaction is expected to close in the first half of next year.
ANZ and National Australia Bank (NAB) are among lenders bankrolling Blackstone’s A$36 billion (US$25.3 billion) purchase of HSBC’s Australian retail loan portfolio, the Australian Financial Review reported on Sunday (Aug 2), citing unnamed sources.
Blackstone has arranged at least A$30 billion in senior debt through a privately offered residential mortgage-backed securitisation, AFR said. ANZ and NAB were part of a debt stack that includes foreign banks, the newspaper reported.
ANZ did not immediately respond to a Bloomberg e-mail sent outside office hours. NAB declined to comment.
Blackstone and the lenders are to put a public securitisation deal to credit funds and other institutional investors within 12 months of ownership, AFR reported.
Pepper Money, a domestic shadow lender backed by KKR & Co, will service the loan portfolio for Australian customers. The deal, which was announced on Friday, is expected to close in the first half of next year. BLOOMBERG