Only had a quick look
Government Bonds are 5.24% so currently paying 4.76% above Government bond rate. You are unlikely to get the BBSW + 6.625% as usually these instruments are called before the step up. Also note that is subordinated to all depositors so you take first loss after ordinary equity.
Still a good rate for 5 years until then if you want some fixed interest type returns.
APRA regulated ADI, so this makes it reasonably safe, but obviously all smaller financial institutions are facing issues with competition and access to wholesale funding. This may a temporary thing due to GFC or it may become permanent. Or in a worst case scenario cause Heritage to go bust..........
Assuming mainly housing loans, should be OK, unless economy and property really tanks.
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heritage bank limited
Only had a quick lookGovernment Bonds are 5.24% so currently...
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