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Bendigo & Adelaide Bank to buy A$1.35B of residential home loans

Bendigo &Adelaide Bank Ltd. agreed to buy about A$1.35 billion of standardresidential home loans from Keystart Housing Scheme Trust by equitableassignment.

The purchase price is at a premium of 0.2%, or approximatelyA$2.7 million. The deal is expected to close by early December.

The acquisition will boost the proportion of the bank's loanbook in Western Australia to 13% from 11%.

In addition, the bank announced a plan to undertake anonunderwritten share purchase plan in October. Under the plan, eligibleordinary shareholders will be able to subscribe for new Bendigo & Adelaideshares.

Proceeds from the share purchase will be used for the bank'scapital base.

As of Sept. 28, US$1was equivalent to A$1.31.