Powered by MOMENTUM MEDIA
Powered by MOMENTUM MEDIA
subscribe to our newsletter
subscribe to our newsletter

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

A major insurance provider has announced that it would restrict its offering of lender’s mortgage insurance in light of emerging risks ass...

Lenders will be allowed to extend their pre-approval period for borrowers using the First Home Loan Deposit Scheme given the coronavirus pan...

The federal government has announced several changes to the Takeovers Panel, which include the reappointment of an ANZ executive and the ap...

FROM THE WEB
podcast

LATEST PODCAST: Further relief for SMEs and borrowers

Do you expect COVID-19 to reduce or increase your business flows?

Why we’ll keep delivering for our communities in the face of COVID-19

alex

As Australia tries to keep pace with a rapidly changing business and social landscape in the wake of COVID-19, Momentum Media is leading the way delivering essential content to our communities, writes Alex Whitlock, director of Mortgage Business.

Read more

Website Notifications

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