St George goes on Crusade with A$2.1 billion securitisation issue
(28 February 2005 – Australia) St George Bank has begun a marketing campaign for a proposed multi-currency mortgage backed securities issue under its Crusade securitisation program.
The bank aims to issue the equivalent value of A$2.1 billion in total, via separate tranches of approximately US$600 million, Euro 500 million and A$500 million as well as subordinated tranches of about A$35 million.
Known as the Crusade Global Trust No.1 of 2005, the US$ securities will be registered with the US Securities and Exchange Commission. The Euro securities will be listed on the Irish Stock Exchange and the securities will be backed by Australian residential mortgage loans originated by St George.
Deutsche Bank Securities and JP Morgan will lead manage the US$ tranche with RBS Greenwich Capital as co-manager. Deutsche Bank AG London, JP Morgan Securities will be joint lead managers for the euro tranche with the Royal bank of Scotland as co-manager.
Deutsche Bank AG, Sydney and JP Morgan Australia and St George will be joint lead managers for the A$ tranche.
Known as the Crusade Global Trust No.1 of 2005, the US$ securities will be registered with the US Securities and Exchange Commission. The Euro securities will be listed on the Irish Stock Exchange and the securities will be backed by Australian residential mortgage loans originated by St George.
Deutsche Bank Securities and JP Morgan will lead manage the US$ tranche with RBS Greenwich Capital as co-manager. Deutsche Bank AG London, JP Morgan Securities will be joint lead managers for the euro tranche with the Royal bank of Scotland as co-manager.
Deutsche Bank AG, Sydney and JP Morgan Australia and St George will be joint lead managers for the A$ tranche.
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