ANZ has priced a five-year dual tranche note issue, raising A$2.57 billion. The $2.4 billion floating rate tranche was priced at a margin of 118 basis points over the three-month bank bill swap rate and the $175 million fixed-rate tranche has a coupon of 3.25 per cent. A mortgage platform servicer ranking on Bendigo and Adelaide Bank from Standard & Poor's includes a couple of observations on future investments. Bendigo is "investigating a new integrated lending system and management reporting system," S&P said. Echoing this, S&P wrote later that "Bendigo is reviewing the possibility of a fully automated and integrated management reporting system." S&P continues to rate Bendigo as a "strong" mortgage servicer. Correction: Fitch Ratings, rather than Moody's, was the source for yesterday's article "Collections headaches spin in vehicle finance". That article reported that the net loss rate fell but arrears increased.