Industry super fund Catholic Super is believed to be making early efforts to sell off its banking operations, which some estimate could be worth about $150m.
Apparently, soft soundings have been made around the market for the asset. Various church groups own banks linked to certain archdiocese that are used for lending deposits on fund ventures such as schools and other projects.
It comes with suggestions over the past 18 months of a possible sale of ME Bank, which dismissed market talk in the past year that it had fielded approaches from Dutch bank ING for an acquisition.
ME is owned by 26 industry super funds, including AustralianSuper, HESTA and Sunsuper and was founded in 1994, offering home loan discounts to members and competition to the major banks.
Elsewhere, Genworth Mortgage Insurance is understood to have raised $147.5m for its bond issue at 5 per cent above the Bank Bill Swap Rate. The funds came as part of an exchange from a former bond and a remaining $52.5m was to be raised on Wednesday, taking its total raise to $200m.
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Chinese suitor to offload $300m CSG asset
Buyers like Beach Energy and GLNG are tipped to circle Westside Energy’s stake in the Meridian gas plant.