Briefs: Healy and Mentis job swap, Bluestone's second nonconforming RMBS, Eclipx returns via ABS dea
BNZ CEO Anthony Healy will be heading back across the Tasman after being appointed chief customer officer, business and private banking at BNZ's parent, NAB. In a somewhat curious twist, his place will be taken by Angela Mentis, who is the current holder of that chief customer officer, business and private banking role. Mentis will be the first female CEO BNZ has had. She will take over on January 1 next year. Earlier this week, Bluestone Group priced its Sapphire XVII Series 2017-2 Trust non-conforming RMBS deal. It was Bluestone's second such transaction for 2017. It was launched as a A$300 million sized deal on Monday and the top-rated (Aaa) class A1, A2 and A3 notes were priced in line with guidance, at 125 basis points, 170 bps and 190 bps over the relevant bank bill swap rate, respectively. Ken Hanton, a director in NAB's corporate finance team said, "structurally, Sapphire XVII 2017-2 is similar in format to Bluestone's previous Sapphire XVI 2017-1 deal ($250 million notes issued in May)." Yesterday afternoon, the integrated leasing and fleet management business Eclipx Group Ltd launched its Turbo Series 2017-1 Trust, an auto and equipment backed securitisation. Pricing is expected on or before 8 November. Ken Hanton, a corporate finance director at NAB, writing in his team's weekly "Securitisation Insights" observed that, structurally, Eclipx Turbo Series 2017-1 Trust is very similar to Eclipx's previous effort, the Turbo Series 2016-1 Trust, issued in December last year, although it has a "higher maximum contract balance, a slightly higher average contract balance, a higher level of novated finance leases and low level operating leases, and a slightly lower exposure to light commercial and used vehicles." ANZ is the arranger and also a joint lead manager. NAB and Westpac are the other JLMs.