Australia's FSA Group hits over 1-year high on fresh funding

FSA

18/12/2019 04:44

** Shares of FSA Group Ltd  FSA.AX  rise as much as 3.6% to
A$1.30, their highest since Oct, 2018
    ** Debt solutions and lending services provider says it
priced and settled its inaugural A$200 mln ($135.72 mln) issue
of residential backed mortgage securities (RMBS) via Westpac
Banking Corp  WBC.AX   urn:newsml:reuters.com:*:nASXgjLWT
    ** Residential mortgage-backed securities (RMBS) are a
debt-based security, similar to a bond, backed by the interest
paid on loans for residences
    ** Stock posts its biggest intraday pct gain since Nov. 28
    ** More than 76,000 shares change hands, compared with the
30-day average volume of ~40,000
    ** Stock has risen 21.3% this year as of last close

($1 = 1.4736 Australian dollars)

 (Reporting by A K Pranav)
 ((Pranav.AK@thomsonreuters.com;))