ANZ, NAB among banks funding Blackstone’s HSBC book buy: Australian media
Businesstimes News·- ANZ and National Australia Bank are among the lenders funding Blackstone’s A$36 billion acquisition of HSBC’s Australian retail loan portfolio. - Blackstone arranged at least A$30 billion in senior debt via a privately offered residential mortgage-backed securitisation involving both domestic and foreign banks. - The transaction, which includes Pepper Money servicing the portfolio, is expected to close in the first half of next year.HSBC agrees to sell AUD 36 billion Australian home, personal loan portfolio to Blackstone
PUBT·- HSBC Holdings agreed to sell its Australian home and personal loan portfolio of approximately AUD 36 billion to Blackstone-owned Virgo BidCo, with the transaction targeting closure in 1H 2027. - The deal is expected to result in a pre-tax loss of under USD 0.1 billion, while HSBC plans to wind down the remainder of its Australian retail business over 18 months incurring USD 0.3 billion in restructuring costs. - Pepper Money will service the transferred loans following the completion of the transaction, which remains subject to regulatory and competition approvals.