Case Study: Latitude - Australia’s first credit card Master Trust

In March this year Latitude Financial Services, a financial service provider with approximately 2.5 million customers in Australia and New Zealand, launched Australia’s first public credit card Master Trust. The transaction was worth approximately A$1.1 billion across seven tranches.

The credit card Master Trust structure is a well-established securitisation vehicle in many overseas markets, but not yet used in Australia.

One significant benefit of the structure is an accelerated issue of ‘bullet’ bonds. Many international investors are familiar with the Master Trust structure - opening up a broader range of potential investors for Latitude.

Perpetual Corporate Trust worked closely with Latitude to implement this new Master Trust structure. In this video interview we talk to experts from Latitude and Perpetual about what it takes to launch a new product of this scale and complexity into the Australian market.

If you would like to discuss a new business proposal, please contact our Sales and Relationship Management team.

Sales & Relationship Management Team