Powered by MOMENTUM MEDIA
subscribe to our newsletter
Auswide issues floating rate note

Auswide issues floating rate note

Auswide Bank has announced it has successfully issued its second senior unsecured floating rate note (FRN).

The bank said in a statement that the 364-day, $25 million FRN was priced at a margin of 70 basis points over the relevant bank bill swap rate.

The FRN was issued to investors in the capital market under Auswide’s existing debt issuance program, with Laminar Capital acting as lead manager.

Advertisement
Advertisement

Auswide Bank managing director Martin Barrett said he is pleased with the solid demand from investors for the bank’s FRN.

“It provides cost-effective funding and further diversifies our funding sources,” he said.

“The successful issue will assist with current growth in our housing, consumer and business loan portfolio.”

Auswide issues floating rate note
mortgagebusiness

 

Latest News

The major bank’s net interest margin has been strengthened by its out-of-cycle mortgage rate hikes, contributing to quarterly cash earning...

ASIC’s decision to undertake a review and consider changes to responsible lending guidelines will be “credit positive” for the mortgag...

The banking royal commission has not spurred a deterioration in satisfaction among customers of Australian banks operating in New Zealand, a...

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?