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ISCOVER
Staff Reporter
Liberty Financial has priced its 23 public term securitisation.
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The $300 million RMBS issue is jointly managed by both National Australia Bank and Deutsche Bank.
According to a statement from the lender, the transaction was well supported by investors across the entire capital structure. Notably, all classes of notes were rated independent of lenders mortgage insurance.
“Liberty has again confirmed it is the benchmark issuer of non-prime mortgage backed securities in the Australian market,” Deutsche Bank’s John Claudianos said.
The issue consists of a pool of non-prime mortgages with a weighted average loan-to-value ratio of approximately 66.5 per cent.
In addition, the collateral is well seasoned at over 35 months.
“Liberty is a leader in providing households and small businesses with the freedom to choose from a wide range of products and services to meet their financial needs. We are grateful for the support investors have extended to our business,” Liberty Financial’s Peter Riedel said.
