Thinktank Completes its eleventh Residential Securitisation Transaction
Thinktank Completes its eleventh Residential Securitisation Transaction
Thinktank, a leading non-bank lender in commercial and residential mortgages, has just completed its eleventh residential mortgage-backed securities (RMBS) transaction, its first capital markets transaction in 2026.
The $750m issuance marks Thinktank’s 23rd transaction since its founding in 2006 and highlights the company’s rising scale and market prominence, with assets under management about to surpass A$9.0 billion.
Thinktank’s total issuance between residential mortgage-backed securities (RMBS) and commercial mortgage-backed securities (CMBS) formats, now exceeds A$13 billion, across 23 transactions.
CFO Cullen Huges said, “The transaction represents an important milestone for Thinktank and a clear vote of confidence in our RMBS program. Executed during a period of market volatility, the strong participation from both existing and new investors underscores the underlying resilience of the market and the quality of the portfolio. The transaction is also the first since Thinktank received its STRONG servicer ranking from S&P in early 2026.”
The final order book attracted interest from 34 institutional investors, with 57 per cent representing domestic accounts and 43 per cent from offshore participants.
Bank balance sheets accounted for just 38 per cent of the final order book, with real money investors comprising the remainder at 62 per cent.
Pricing details were disclosed across the capital structure, with the S&P and Fitch AAA rated Class A1-S Notes set at a margin of +0.85 per cent above the 30-day Bank Bill Swap Rate, the AAA rated Class A1-L Notes at +1.23 per cent and the AAA rated Class A2 Notes at +1.35 per cent. Notably, the Class A1-S Notes priced in line with guidance, while the Class A1-L to Class F Notes priced at the tighter end of guidance underscoring strong investor demand and a positive market reception.
The pool comprises 1,080 first mortgage loans with an average size of $694,444 while 90.3 percent of properties located in major metropolitan areas with 9.7 percent in non-metro urbanised locations.
The successful bond issue highlights the sustained quality and consistency of Thinktank’s commercial and residential loan books over the long-term.
Hughes added, “This transaction is a testament to the enduring strength of our business and the trust our investors continue to place in us. Looking ahead, our focus remains on disciplined growth, supporting brokers and customers across both the residential and commercial markets, and delivering sustainable, long‑term value to the market.”
About Thinktank
Founded in 2006, Thinktank was established by a group of financial services professionals with deep expertise across commercial and residential property lending, particularly in the self-employed and SME sector. With a team of over 200 skilled professionals, Thinktank has offices in Sydney, Melbourne, Brisbane Perth and Adelaide, and to date has originated in excess of $18 billion in mortgage secured finance encompassing a range of commercial, residential and SMSF product solutions.
