ANZ, NAB among banks funding Blackstone’s HSBC book buy: Australian media
At least A$30 billion in senior debt has been arranged through a residential mortgage-backed securitisation
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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
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