Powered by MOMENTUM MEDIA
subscribe to our newsletter
Wide Bay prices $300 million RMBS transaction

Wide Bay prices $300 million RMBS transaction

Queensland lender Wide Bay Australia Ltd last week priced its 11th RMBS transaction at $300 million.

The Notes to be issued by WB Trust 2014-1 are rated by Fitch and S&P, with S&P only rating the Class A Notes and Fitch rating all the way down to the Class C Notes.

There was strong demand for the ‘AAA-rated' tranches, particularly the Class AB Notes, which were strongly sought after by a number of investors.

Advertisement
Advertisement

The mezzanine Notes and the unrated Note were pre-placed by ANZ following extensive soft sounding.

ANZ was the arranger and joint lead manager with Westpac. The transaction is scheduled for settlement on 6 November 2014.

“We are pleased with the result and the support from investors and this issuance will further strengthen Wide Bay’s funding position and allow us to continue our focus on growth,” Wide Bay managing director Martin Barrett said.

Located in Bundaberg, Queensland, Wide Bay is the largest financial institution north of Brisbane, with 33 branches and two broker centres located in Queensland with operations extending from the Gold Coast to Cairns and an extensive interstate broker lending program.

 

Wide Bay prices $300 million RMBS transaction
mortgagebusiness

 

Latest News

Bendigo Bank has partnered with Swinburne University of Technology to open a new Community Bank and use its profits to “enhance” educati...

“Subdued” market sentiment, credit policy and process changes have been the cause of ANZ’s below system mortgage growth, CEO Shayne El...

The property industry’s united opposition to Labor’s housing policy has been voiced in Canberra, while proponents of the housing reforms...

FROM THE WEB

POST RC PANEL DISCUSSION ADDED

podcast

LATEST PODCAST: The current mindset of the mortgage industry

Is enough being done to ensure responsible lending?