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Rural Bank breaks the ABS drought

Rural Bank may also be about to demonstrate that debt investors are once again willing to invest in asset-backed securities.In a media release published this morning, mainly to remind stakeholders of the change of name from Elders Rural Bank, the bank said it planned to launch a "publicly rated securitisation program worth $500 million called Agri Trust 2009-1".The trust will fund bank-originated rural loans backed by mortgages over rural property. National Australia Bank is lead manager for the planned note issue that Rural Bank expects to finalise in early September.

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