Exciting news in Australian banking – BCCM member NGM Group has just secured a record-breaking $450M five-year debt issue, the largest ever for an Australian mutual. Great to see them strengthening their position to support customer lending and community investment.
Today is a day for breaking records. 🎉 Today, NGM Group settled on the largest-ever five-year senior unsecured debt issue for an Australian mutual, securing $450 million from investors. 📈 This deal not only sets a new industry record but also solidifies our position as a leader in the Australian mutual banking sector. 🏛️ This funding will enable us to continue delivering on our purpose: helping our customers and communities to thrive 🌱, by supporting continued growth in our lending business, further strengthening our liquidity position and driving more investment in our local communities. A big thank you to our team and the investors that participated. 💪