Briefs: Wallet Wizard unmasked, La Trobe's RMBS roadshow, YBR chasing Homeloans, MYOB prices IPO

Banking Day staff
  • Debt purchaser Credit Corp has rebranded its lending business as 'Wallet Wizard', launching the new brand with a television advertising campaign featuring a character in a faux superhero costume. The company offers unsecured loans with terms of four months to three years for amounts up to A$5000. Interest rates range from 15 to 25 per cent. The loan book has more than doubled over the past two years and at the end of March it was worth $85 million.

  • La Trobe Financial said yesterday it was "exploring funding opportunities across a range of markets". In that vein, the Victorian lender has mandated the CBA to arrange a series of debt investor meetings, for the week from 6 May, to test appetite for what would be La Trobe's second Australian dollar denominated residential mortgage-backed securitisation issue.

  • MYOB's private equity owner, Bain Capital, has priced the accounting software firm's initial public offering at $3.65 a share, the AFR's Street Talk reports, citing 'sources'. There may be some money left on the table for future investors in what is expected to become the biggest share float of 2015 to date.  

  • Yellow Brick Road is believed to be in talks to merge with the ASX-listed mortgage broker Homeloans in a deal which would create a company worth more than $220 million, the AFR has reported. Citing 'sources' the AFR also reported that YBR is looking to increase its footprint in mortgage broking and the acquisition of RESIMAC's State Custodians and Finsure 'could also make sense'.