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MYSTATE LIMITED — Capital/Financing Update 2013
Oct 31, 2013
65395_rns_2013-10-31_4e73e974-17dd-4acc-985d-c58a0bf7515f.pdf
Capital/Financing Update
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ASX and Media Release 1 November 2013
MyState Limited Successfully Prices $322m RMBS
Hobart, Friday, 1 November 2013: MyState Limited announced today that it has successfully priced its CONQUEST Series 2013-1 Trust RMBS transaction.
The senior tranche of notes has received a preliminary rating of AAA (sf) from Standard and Poors and Fitch Ratings. Pricing details are set out below:
| Class A | $296.24 million | WAL 3.1 years | 1mth BBSW + 110 basis points |
|---|---|---|---|
| Class AB | $14.49 million | WAL 5.9 years | 1mth BBSW + 215 basis points |
| Class B | $11.27 million | WAL 5.9 years | 1mth BBSW + 350 basis points |
The transaction is backed by Australian prime residential mortgages originated by MyState Financial Limited and the Rock Building Society Limited.
MyState Limited’s Managing Director, John Gilbert, said; “the launch of this transaction demonstrates the diversified asset portfolio of the Group following the acquisition of The Rock. The transaction is a positive step for the CONQUEST programme and the long term funding of both institutions.”
Mr Gilbert added, “the continued strong performance of our Australian residential mortgages, particularly the low arrears levels through the global financial crisis, and the well-diversified asset pool has been attractive to investors across the capital structure of the transaction. The transaction will provide capital and funding benefits to the MyState Group and represents the continuing realisation of positive funding synergies from the merger with The Rock.”
A total of 14 investors participated in the transaction.
ENDS
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For further information, please contact:
Tom Taylor William McShane Chief Financial Officer Treasurer MyState Limited MyState Limited M: + 61 (0) 488 978 068 M: + 61 (0) 437 192 635 +61 3 6215 9609 +61 3 6215 9554 [email protected] [email protected]
About MyState Limited
MyState Limited is an ASX-listed diversified financial Group formed in September 2009 to effect the merger of MyState Financial Limited (MSF), an authorised deposit-taking institution, and Tasmanian Perpetual Trustees Limited (TPTL), a trustee and wealth management company. MyState acquired The Rock Building Society Limited, based in Rockhampton, in December 2011.
MyState Limited, MSF and The Rock are regulated by APRA and MyState Limited was enabled under Tasmanian legislation to own the authorised trustee company TPT. MSF, The Rock and TPT hold Australian Financial Services Licences issued by ASIC.
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