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The Notes to be issued by WB Trust 2014-1 are rated by Fitch and S&P, with S&P only rating the Class A Notes and Fitch rating all the way down to the Class C Notes.
There was strong demand for the ‘AAA-rated' tranches, particularly the Class AB Notes, which were strongly sought after by a number of investors.
The mezzanine Notes and the unrated Note were pre-placed by ANZ following extensive soft sounding.
ANZ was the arranger and joint lead manager with Westpac. The transaction is scheduled for settlement on 6 November 2014.
“We are pleased with the result and the support from investors and this issuance will further strengthen Wide Bay’s funding position and allow us to continue our focus on growth,” Wide Bay managing director Martin Barrett said.
Located in Bundaberg, Queensland, Wide Bay is the largest financial institution north of Brisbane, with 33 branches and two broker centres located in Queensland with operations extending from the Gold Coast to Cairns and an extensive interstate broker lending program.
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