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Moody's: Westpac to issue A$474M of ABS

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Moody's: Westpac to issue A$474M of ABS

Moody's onApril 11 said Westpac BankingCorp. will issue A$474 million of structured securities backed byauto loans and finace lease, among other assets.

The issuanceconsists of A$405 million of class A notes, A$25 million of class B notes, A$20million of class C notes, A$14 million of class D notes and A$10 million of classE notes. The notes will be issued by Perpetual Corporate Trust Ltd. as trustee.

Theissuance is Westpac's first auto ABS for 2016.

As of April 8, US$1 was equivalent to A$1.32.