MA Money sealed the deal on its largest residential mortgage-backed security (RMBS) to date at $1.25 billion, signaling continued investor appetite in Australia's non-bank space.
The transaction was MA Money's first issuance of the year, upsized from its initial price of $1 billion. Demand came from investors both at home and abroad, including new institutional investors.
"Investor confidence in MA Money continues to strengthen as we scale," said Chris Wyke, joint chief executive officer of MA Financial, a global alternative asset manager and parent company to MA Money.
"Despite a competitive and crowded market environment, MA Money achieved the targeted upsize," Wyke continued, "underscoring continued confidence in the business and its long-term strategy."
The transaction marks non-bank's sixth public bond issuance since the rebrand in 2023. Settlement is scheduled for 26 February.
The MA Money deal also upped the ante in Australia's fast-moving RMBS market. Earlier this month, aggregator group Australian Finance Group (AFG) issued its own RMBS for $1.2 billion through its AFG Securities arm.
"The [MA Money] transaction sets a new benchmark for the non-bank sector, with MA Money becoming the fastest non-bank mortgage lender post establishment to issue a foreign currency tranche and [one of] the fastest to grow a deal size beyond $1 billion," said MA Money Treasurer Akeshni Gour.
“This is our largest issuance to date and our first to include a foreign currency tranche, further diversifying our funding base and expanding our global investor reach,” she said, adding that the transaction "demonstrates the depth of confidence in our business model and asset quality. In a highly competitive market, direct engagement with our investors was instrumental in achieving the successful upsize.”
The deal also better positions MA Money to increase originations, broaden offerings and maintain its presence as a non-bank option for brokers.
“This issuance reflects the continued confidence in MA Money and the performance of our loan book," Wyke told Australian Broker. "For brokers, securitisation is critical because it allows us to increase our capacity to write more loans. It ensures we can continue supporting brokers with consistent funding, reliable turnaround times and the ability to expand our product offering. Strong investor backing ultimately gives our broker partners greater certainty as they grow their own businesses.”
MA Money’s expansion has unfolded in lockstep with the rapid growth of Australia’s non-bank sector.
In 2025, settlement volumes rose from $224 million in January, to more than $600 by December. Now, the three-year-old non-bank has its sights set on $1 billion in settlements in a single month.
But last year was a landmark year for the lender as well. In November, the non-bank refreshed its product suite with alternative lending options, including the launch of MA Money More, which offers larger loan options, as well as updated alt doc commercial lending. The firm went from $3 billion in loans under management in May, to approximately $4.5 billion as of November. And in August, it rolled out ApplyOnline, streamlining the application process for brokers and boosting overall efficiency.
MA Money also hired former RedZed BDM Craig Stuart in September as its head of commercial, in anticipation of rolling out new commercial loan products, and underscoring the firm's leap from residential into specialty finance and commercial markets.
In 2026, MA Money National Sales Manager Tim Lemon said the non-bank will double down on new products and initiatives while ramping up its investment in technology. In January, the group joined the MoneyQuest Group lender panel.
