ME Bank downplays guarantee removal following deal
- Wednesday, 10 February 2010
ME Bank (BBB/A2) completed an A$500 million (US$437.5 million) government guaranteed medium term note (MTN) deal on February 10, with the issuer downplaying the significance of the recent announcement of the guarantee's impending withdrawal. Buoyed by its recent success in the residential mortgage-backed security (RMBS) market, ME Bank says its funding position is secure and the latest deal was part of its wider strategy rather than a move to secure guaranteed funds while available.
