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NGM Group breaks records with $450 million five-year debt issuance

NGM Group has once again set a new benchmark for the mutual banking sector, settling on a $450 million five-year debt instrument.

This is the largest transaction of its kind ever completed by an Australian mutual, surpassing the record that both NGM Group and People First Bank set in 2024.

Generating strong demand, the issue received orders totalling close to $1 billion from domestic and international investors.

“This record-breaking debt issue highlights the trust and confidence investors place in NGM Group,” NGM Group CFO Richard Burton said.

“To see the market respond with such fervour, demonstrates that we have good access to funding sources and a diverse investor base, affirming our position as an industry leader.”

“We’re really proud of the outcome and grateful to those investors that participated,” he said.

Raising this debt enables NGM Group to continue its strong lending growth, further strengthen the Group’s liquidity position and support more investment and lending into the communities in which it operates.  

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