Suncorp-Metway has released its initial pricing on the $1.2 billion offer of prime residential mortgage backed securities.
According to a report on Reuters, the Australian Office of Financial Management (AOFM, is set to buy $690 million of the billion dollar offer.
The exact details of the offer are expected to be announced to the market on Friday.
Suncorp has mandated Macquarie Bank and Royal Bank of Scotland to jointly lead the offer.
The last receiver of the government support, Greater Building Society, is expected to price its RMBS by late August.