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Westpac today announced that it had completed funding arrangements for RAMS Home Loans up to $500 million.
The funding arrangement, which came into effect today, will be provided by a warehouse facility and will fund all new loans settled by RAMS until Westpac’s acquisition of RAMS’ distribution business is complete.
Westpac’s funding will cease if shareholder approval is not obtained at the RAMS AGM held on November 26.
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