SUNCORP GROUP
THINKTANK
AUSTRALIAN ADI
YES
AUSTRALIAN ADI
NO
SECURITISATION PROGRAMME NAME
APOLLO
SECURITISATION PROGRAMME NAME
THINK TANK
USE OF S E C UR IT IS AT I O N TYPE OF SECURITISATION ISSUED
USE OF SE CURI T I SAT I ON PRIME RMBS
TYPES OF SECURITISATION ISSUED
CMBS, RMBS
PROPORTION OF OUTSTANDING WHOLESALE FUNDING SOURCED VIA SECURITISATION
13.8%
PROPORTION OF OUTSTANDING WHOLESALE FUNDING SOURCED VIA SECURITISATION
65%
NUMBER OF SECURITISATIONS ISSUED
23
NUMBER OF SECURITISATIONS ISSUED
6
TOTAL VOLUME ISSUED
A$26.5BN EQUIVALENT
TOTAL VOLUME ISSUED
A$2BN
TOTAL DOMESTIC VS OFFSHORE ISSUANCE
81% DOMESTIC 19% OFFSHORE
TOTAL DOMESTIC VS OFFSHORE ISSUANCE
100% DOMESTIC
OUTSTANDING VOLUME OF SECURITISED ISSUES
A$2.6BN
OUTSTANDING VOLUME OF SECURITISED ISSUES
A$1.3BN
PROPORTION OF SECURITISATION PORTFOLIO IN COVID-19 PAYMENT RELIEF AT 30 NOV 2020
3.5%*
PROPORTION OF SECURITISATION PORTFOLIO IN COVID-19 PAYMENT RELIEF AT 31 DEC 2020
4.6%
* Proportion by balance of loans in portfolio.
S
uncorp is an Australian Securities Exchange-listed company and financial-services provider in Australia and New Zealand, and ultimate parent company of the Suncorp Group, which delivers insurance, banking and wealth products and services to customers in Australia and New Zealand and employs more than 13,500 people. Suncorp has three core businesses: Insurance (Australia), Banking and Wealth, and Suncorp New Zealand. The operating functions are responsible for product design, manufacturing, claims management and distribution. Suncorp Bank is focused on lending, deposit gathering and transaction-account services to personal, SME, commercial and agribusiness customers. The Wealth portfolio manufactures, administers and distributes superannuation products. The bank continues to assist customers through its store network during COVID 19, while balancing the safety of Suncorp’s people and the wider community.
◆ please contact:
Simon Lewis Treasurer +61 7 3362 4037 | simon.lewis@suncorp.com.au Maddalena Gowing Manager, Securitisation and Covered Bonds +61 7 3362 4038 | maddalena.gowing@suncorp.com.au Christian Graham Securitisation and Covered Bond Specialist +61 7 3362 4032 | christian.graham@suncorp.com.au Ally Tang Securitisation and Covered Bond Specialist +61 7 3362 4069 | ally.tang@suncorp.com.au www.suncorp.com.au
T
hinktank Commercial Property Finance is an independent nonbank financial institution specialising in the provision of commercial-property mortgage finance up to A$3 million and residential-property mortgage finance up to A$1.5 million in the Australian SME sector. Commencing operations in 2006, Thinktank is a programmatic issuer supported by a national distribution network and offices in Sydney, Melbourne and Brisbane. The company’s most recent term issue, of A$600 million, was completed in October 2020 and comprised a mix of 55% standard commercial and 45% ordinary residential security properties predominantly located in Sydney, Melbourne and Brisbane with an average loan size of A$580,000 and weighted average loan-to-value ratio (LVR) of 66.5%. Early in 2021, Thinktank plans to launch a standalone RMBS programme alongside its existing small-ticket CMBS presence, with multiple intrayear issuance planned on the back of ongoing incremental growth in its core SME and self-employed borrower markets. Thinktank currently sees monthly originations exceeding A$100 million across its range of commercial, residential and SMSF loan products. Thinktank’s asset quality and performance is notable for conservative LVR, low arrears and negligible loss history. Under the continued guidance of the company’s founders, growth in the loan portfolio has been measured and is strongly supported by long-term domestic and offshore institutional stakeholders.
◆ please contact:
Cullen Hughes Chief Financial Officer and Treasurer +61 2 8669 5518 | chughes@thinktank.net.au Jonathan Street Chief Executive Officer +61 2 8669 5505 | jstreet@thinktank.net.au www.thinktank.net.au 109
