Powered by MOMENTUM MEDIA
subscribe to our newsletter

Non-major diversifies funding with FRN issue

A listed Australian bank has priced its fourth Senior Unsecured Floating Rate Note.

In a trading update last week, Auswide Bank said the 364-day $25 million senior unsecured floating rate note was priced at a margin of 90 basis points over the relevant BBSW.

Auswide said the FRN was issued to investors in the capital market under the bank’s existing Debt Issuance Program, with Laminar Capital Pty Ltd acting as Lead Manager.

Auswide Bank managing director Martin Barrett said he is pleased with the strong demand from Investors for the bank’s fourth issue of senior unsecured floating rate notes.

“It provides an effective source of funding and maintains diversification of our funding sources. The successful issue will assist with current growth in our housing, consumer and business loan portfolio”.

Advertisement
Advertisement

PROMOTED CONTENT


[Related: Auswide celebrates significant milestone]

Non-major diversifies funding with FRN issue
mortgagebusiness

Latest News

The RBA has studied the role of collateral in credit markets under stress, and has found that collateralised borrowing rose for some segment...

Auction volumes surged significantly over the December quarter across Australia, largely attributed to a “resurgence” in Melbourne, acco...

Loan conditions and collateral guarantees continue to be major stumbling blocks for small businesses looking to access financing, according ...

FROM THE WEB

Join a group of highly informed brokers.

Broker Pulse, a community-driven knowledge base of lender performance Reveal exactly which lenders are making life easiest for brokers and their clients by taking this monthly survey and joining a group of highly informed brokers who leverage these insights every month.

JOIN NOW
podcast

LATEST PODCAST: A new record in mortgage approvals

Do you expect to see strong uptake of the HomeBuilder scheme?

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.