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Westpac Bank prices AUD2.0bn RMBS issue.

Global Banking News-18 December 2009-Westpac Bank prices AUD2.0bn RMBS issue(C)2009 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 18 December 2009(c)2005 - Electronic News Publishing - http://www.enpublishing.co.uk

Australia's Westpac Banking Corporation (WBC.AU) (NYSE: WBK) has priced AUD2.0bn of residential mortgage backed securities, the first offer of such securities by a major lender since 2007.

The amount of securities sold was much more than Westpac's initial plan to price AUD1.0bn of securities.

The AUD1.84bn Class-A notes were priced at 130 basis points over swap, while pricing on the lower tranches have not been disclosed. Westpac itself has led the offer.

[Editorial queries for this story should be sent to gbn@enpublishing.co.uk]

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Publication:Global Banking News (GBN)
Date:Dec 18, 2009
Words:132
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