Bendigo and Adelaide Bank launches securitisation program
Bendigo and Adelaide Bank has launched its latest securitisation program that will see the company issue securities with an estimated value of $500 million.
The TORRENS Series 2011-2 Trust will be backed by prime residential mortgages originated by the Bendigo and Adelaide Bank.
Deutsche Bank AG, NAB and Westpac are Arrangers, Joint Lead Managers and Joint Bookrunners for the program.
The bank is anticipating that the senior tranches will be rated AAA by Standard & Poor’s and Aaa by Moody’s Investor Services.