Bendigo and Adelaide Bank Ltd
(ASX:BEN) has launched a $775 million securitisation issue in an effort to attract new institutional investors.
The bank says its latest residential mortgage backed securities issue will offer securities in Australian dollars with a final tranche size to be determined by market conditions.
National Australia Bank Ltd (ASX:NAB) is the arranger and joint lead manager, with Westpac Banking Corporation (ASX:WBC) and Deutche Bank acting as subsequent joint lead managers.
Bendigo and Adelaide Bank booked a $259.9 million net profit in the 2010 financial year.
