(PRWEB) March 10, 2010
ME Bank received domestic and global awards for performance in the financial markets for the calendar year of 2009. These awards were in recognition of ME Bank being the first bank in the world to launch a structured finance deal – without the Government safety net - in a global credit market that had been frozen since the collapse of Lehmann Bros Bank in August 2008.
In the prestigious Kanga News awards, ME Bank received each of the ‘Securitisation Deal of the Year’ and ‘Australian Securitisation Issuer of the Year’ awards. The Deal of The Year was awarded to Maxis Loans Securitisation Fund 2009-1 for its issue of $276 million, which at the time was the first deal of its type in the world without the government safety net. Market participants pinpoint this transaction as a paradigm shifting deal.
ME Bank also won plaudits as a finalist in the INSTO Awards for being a first mover in terms of accessing real money investors as well as also for being one of the most innovative borrowers in the market. When Maxis Loans Securitisation Fund 2009-1 was issued in September it received acclaim from a broad range of media publications, including positive comments from the Treasurer Wayne Swan quoted in The Wall Street Journal.
The Kanga award for Australian Securitisation Issuer was as a result of more than $3 billion of securitisation transactions that ME Bank was able to complete in 2009, or over 20 per cent of total asset-backed securities issued by volume. ME Bank also completed 3 of the 5 residential mortgage-backed securities deals completed in 2009 without government support.
Internationally, ME Bank has also received a number of awards. The awards are from Thomson Reuters in their International Financing Review (‘IFR’) publication, and are considered in the industry as one of the more prestigious awards to have received. For the IFR Asia publication, ME Bank received ‘Securitisation Deal of the Year’ for the $1.25 billion SMHL Securitisation Fund 2009-2 transaction that was issued in late September. In IFR’s global award categories, ME Bank received for the SMHL Securitisation Fund 2009-2 deal, the award for the ‘Asia-Pacific Securitisation’ structured finance deal of the year. In both IFR’s Asia and Global awards, no other Australian domestic bank received awards.
About ME Bank
ME Bank offers consumers Fixed Term Deposits, online savings accounts, home loans and more.