Company News Summary
Bendigo and Adelaide Bank Announces TORRENS Series 2013-1 Trust
Original announcement: BEN announces TORRENS Series 2013-1 Trust
Bendigo and Adelaide Bank announced the marketing of its latest mortgage backed securities issue under the TORRENS securitisation program. The offer will be known as TORRENS Series 2013-1 Trust, and will offer securities denominated in A$, with final tranche sizes to be determined subject to market conditions. The issue will be backed by Australian prime residential mortgages originated by Bendigo and Adelaide Bank. Securities with a value of up to A$850m are expected to be issued. It is expected the senior tranche of securities will be rated AAA (sf) by Standard & Poor's and Aaa (sf) by Moody's Investor Services. Deutsche Bank AG and Macquarie Bank are the Joint Lead Managers for the transaction.
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