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Liberty Financial has announced the launch of its third commercial paper programme, the $400 million Liberty Sirius Trust.
The programme will issue commercial paper that is rated A-1+ /P-1 by S&P’s and Moody’s, and is backed by insured and non-insured mortgages advanced to prime borrowers originated by Liberty.
The Trust is supported by structured liquidity provided by NAB.
“nabCapital and Liberty have worked closely to execute a number of transactions that have been well received by investors,” said nabCapital head of securitisation Australasia John Barry.
“Liberty’s ability to execute multiple issues in the current market reflects its leading industry position and the quality of its risk assessment and servicing competencies,” he said.
Liberty has worked with capital markets participants over the past three months to complete three public issues and one private placement across four different asset classes, as well as launching two new commercial paper programmes.
The lender's managing director Liberty Sherman Ma said that while market conditions have been uncertain and volatile, Liberty’s conservative business model has produced a consistent track record of favourable performance.
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