Securitisation
Westpac's securitisation team is a market leader in the development of innovative securitisation structures and solutions. Our Securitisation capabilities include arranging term structured securities issues, financing and warehousing facilities offered through Waratah Receivables Corporation and/or Westpac.
We are a prominent arranger of term structured securities issues in the Australian and New Zealand market and provide a high level of support for the initial and ongoing success of our clients transactions including the provision of interest rate and cross currency swaps, deposits/GIC facilities and liquidity/redraw facilities.
We maintain an active secondary market presence and strategically invest in ABS/MBS securities.
Waratah is Australia's largest multi seller Asset Backed Commercial Paper (ABCP) programme. Waratah issues US$ ABCP through Sydney Capital Corporation ("Sydney Capital") in the United States and A$ ABCP in Australia through Waratah Securities Australia Limited ("Waratah Securities").
The programme is rated A1+(sf) by Standard and Poors and P1(sf) by Moody's Investors Service.
The programme holds assets in a series of trusts in the Waratah structure which are in turn funded by the issue of commercial paper through Waratah Securities and Sydney Capital.
Waratah seeks to acquire portfolios of assets that meet a minimum level of credit quality in order to deliver a high quality and cost effective asset portfolio financing service for its client base. It also seeks to maintain high external credit ratings. Asset portfolios that have been managed by Waratah include:
- Retail mortgage loans
- Margin Loans
- Trade receivables
- Business loans
Read Waratah's Investor Reports
View SEC Rule 17g-5 Waratah Program Documents (Protected)
View our notable transactions.
