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FSA GROUP LIMITED — Capital/Financing Update 2017
Jul 16, 2017
64948_rns_2017-07-16_ba6aa59c-94ac-40d2-93bc-41753d72be16.pdf
Capital/Financing Update
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FSA GROUP LIMITED
17 July 2017
Home loan facility update
FSA Group offers non-conforming home loans to assist clients wishing to consolidate their debt. Our home loan pool was $306 million at 30 June 2017 ($262 million at 30 June 2016).
FSA Group is pleased to announce that Westpac Banking Corporation has increased its non-recourse senior home loan facility from $275 million to $300 million. This facility has been renewed until October 2019.
The Westpac senior facility is supported by a non-recourse mezzanine facility provided by an institutional fund manager. This facility has been increased from $20 million to $25 million and has also been renewed until October 2019.
Client retention initiative
Westpac Banking Corporation has also approved an initial $25 million non-recourse senior home loan facility to support our home loan client retention initiative. This facility has been approved until September 2019 and comes at a lower cost therefore allowing us to offer improved pricing to retain clients long term. Westpac’s total funding commitment to our home loan division is $325 million.
Cellina Chen Company Secretary
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FSA Group Limited Head Office Level 3, 70 Phillip Street Sydney, NSW, 2000
Phone: (1300) 660 032 Fax: (1300) 660 050
ASX Code: FSA