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The Triton Bond Trust 2026-2 transaction was upsized from initial market guidance of $1 billion following strong investor demand.
The transaction was secured against a diversified portfolio of prime Australian mortgages, with an average loan-to-value ratio of just over 64 per cent.
National Australia Bank acted as arranger and lead manager on the transaction, alongside Commonwealth Bank of Australia, DBS Bank, Deutsche Bank, Natixis, RBC Capital Markets, Standard Chartered Bank, United Overseas Bank, and Westpac Institutional Bank.
The deal surpasses ColCap’s previous Australian non-bank RMBS record of $2.7 billion, set earlier this year.
It also takes the group’s total prime residential mortgage-backed securities (RMBS) issuance over the past 20 years to approximately $37 billion across its Triton, Vermilion, and Molossus programs in Australia and the United Kingdom.
The transaction comes as ColCap approaches its 20th year in Australian mortgage lending, having written its first home loan in October 2006.
ColCap CEO and co-founder Andrew Chepul said the transaction was a significant milestone for the group as it approached two decades in the Australian market.
“It’s fitting that our latest RMBS, upsized on the back of investor demand, comes as we prepare to celebrate 20 years as a non-bank lender in Australia,” Chepul said.
“This is a testament to the value we continue to create for our investors, our partners and our customers.”
Broker channel supports growth
ColCap co-founder and chief operating officer Ilias Pavlopoulos said the group’s relationships with mortgage managers and brokers had been central to its growth.
“Underpinning ColCap’s 20-year growth story has been our multi-channel distribution strategy,” Pavlopoulos said.
The strategy included ColCap’s 2012 acquisition of Origin Mortgage Management Services from ANZ Bank, with the group now holding $23 billion in assets under management across its Australian and UK operations.
ColCap distributes home loans to brokers through its Granite and Molo Finance brands, as well as the Zeus by LMG white label offering.
The Zeus offering recently passed $1 billion in originations less than 12 months after launch, according to ColCap.
The group also distributes through mortgage manager partners via Origin MMS, while its wider lending operations include online lender Homestar Finance and Austrata Finance, which provides finance to strata owners corporations.
Pavlopoulos said ColCap would continue to look for opportunities to expand its distribution partnerships.
“Third party brokers have since embraced our offering, as we seek to deliver competitively priced home loans with features to suit client needs,” he said.
“We look forward to building on this as we look at strategic innovation and growth opportunities in the current market.”
[Related: Resi raises $500m in inaugural RMBS]
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