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MYSTATE LIMITED — Capital/Financing Update 2017
May 24, 2017
65395_rns_2017-05-24_d4ae217b-9083-45cc-817d-9dfcde0349d6.pdf
Capital/Financing Update
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ASX and Media Release 25 May 2017
MyState Limited $400m 2017-1 RMBS oversubscribed and prices tighter than initial guidance
Hobart, Thursday, 25 May 2017: MyState Limited (ASX:MYS), the banking and wealth management group, announced that strong investor demand for its CONQUEST Series 2017-1 $400m RMBS has resulted in tighter pricing for the transaction.
MyState Limited’s Managing Director, Melos Sulicich, said “This transaction was the largest in the long history of the CONQUEST program, one third larger than the most recent transaction and elicited broader investor support than any of our previous transactions.”
Mr Sulicich went on further to say “Investors see our strong lending growth profile, recognise MyState as a regular issuer to the market and increasingly seek to benefit from participating in a program with exemplary credit performance and increasing geographic diversification.”
The senior tranches of notes have received a preliminary rating of AAA (sf) from Standard and Poors and Fitch Ratings. The transaction is backed by Australian prime residential mortgages originated by MyState Bank Limited.
The successful transaction represents the sixth RMBS transaction under the CONQUEST program following from the recent transaction completed in November 2016. Eighteen investors, domestic and abroad participated in this transaction.
The most senior tranche priced at 118bps + 1mth BBSW noting positive margin contraction from most the recent November 2016 transaction as a result of a larger transaction size, more regular issuance and broadened engagement and support from investors.
ENDS
For further information, please contact:
David Harradine William McShane Chief Financial Officer Treasurer MyState Limited MyState Limited +61 3 6215 9609 +61 3 6215 9554 [email protected] [email protected]
About MyState Limited
MyState Limited is the ASX-listed non-operating holding company of the diversified financial services group consisting of MyState Bank (including The Rock – A division of MyState Bank) and Tasmanian Perpetual Trustees, a trustee and wealth management company. MyState Bank is regulated by the Australian Prudential Regulatory Authority. MyState Bank and Tasmanian Perpetual Trustees hold Australian Financial Services Licences issued by the Australian Securities and Investments Commission.
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