Mortgage Business
BNK Bank forms alliance with Goldman Sachs By Malavika Santhebennur 20 May 2021
The listed group has announced that it has reached an in-principle agreement to partner with Goldman Sachs to originate, fund and securitise mortgages.
BNK Bank has announced that it has reached a non-binding agreement in principle with Goldman Sachs on the key commercial terms for an initial term of five years.
According to BNK Bank, under the alliance with the financial institution, it aims to originate, fund and securitise residential mortgages in Australia.
As part of this alliance, Goldman Sachs will provide funding and act as arranger, structuring agent and distributor, while BNK Bank will act as originator, service and trust manager for a securitisation program with an uncommitted facility limit of $500 million, BNK Bank sai