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St George completes funding requirements for 2008

Staff Reporter 1 minute read

St George yesterday announced that had completed 100 per cent of its financial year 2008 term wholesale funding requirements and has raised approximately $1 billion of its estimated $11-12 billion term wholesale requirements for 2009.

Chief financial officer Michael Cameron said: “We are very pleased to have completed our term wholesale funding requirements for this financial year well ahead of time and have now made an early start on funding for 2009."

The bank priced a $1.48 billion benchmark issue of Fixed Rate Notes with a term of five years in London earlier in the week, which was met with extensive demand from over 80 investors throughout Europe.

The Fixed Rate Notes were priced to yield 6.518 per cent, equivalent to 140 basis points over the five year Euro mid swap rate, which compared favorably to recent comparable trades said St George.

Published: 19-06-08

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