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Wide Bay creates contingency RMBS

by Staff Reporter7 minute read
The Adviser

Wide Bay Australia has created a $100 million internal securitisation program to generate additional liquidity if required.

Ron Hancock, Wide Bay managing director, said the program was established for “contingent liquidity purposes” and was not envisaged to be required.

According to Wide Bay, it is the only ADI – apart from larger and major regional banks – to have such a facility in place.

Standard and Poor’s rated the $85.7 million Class A notes of the transaction AAA.

Published: 14-08-08

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