The bank is bundling together 110 corporate loans worth a total of A$1 billion and plans to sell the securitised notes, with an expected maturity of three years, to domestic and international institutional investors.
The note proceeds will be held in a A-1P-1 bank account and the interest earned on the deposit together with premium payments paid by the credit default swap to the issuer will be used to pay interest on the credit-linked notes.
The loans in the portfolio are equally weighted with a value of...
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