ANZ launches A$1 billion collateralised loan obligation

Arrangers sound out investors in Hong Kong and Singapore before establishing a price bracket for the A$1 billion deal.

In the largest Aussie dollar deal of its kind, ANZ bank has launched a fully funded synthetic balance sheet collateralised loan obligation called Resonance Funding Series 2006-1.

The bank is bundling together 110 corporate loans worth a total of A$1 billion and plans to sell the securitised notes, with an expected maturity of three years, to domestic and international institutional investors.

The note proceeds will be held in a A-1P-1 bank account and the interest earned on the deposit...

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