insto - Australian financial markets

NZ-based Southland Building Society launched NZD$150m new tranches to SBS Oreti Trust No. 2 on Wednesday. The deal was initially issued in Mar 2009.

Details of the new tranches are:
• Tranche 1-2, AAA(S&P), 143.7m.
• Tranche 2-2, n.r., 6.3m.
 

The proceeds from the new tranche will be used to fund additional loans.
Trustee: Trustee Executors
 

S&P also affirmed AAA ratings on the 92.6m Tranche 1 notes launched in Mar 2009 via Westpac. The deal consisted Tranche 1 and Tranche 2 notes.