the adviser logo

Non-bank prices securities

by Staff Reporter8 minute read
The Adviser

Staff Reporter

Liberty Financial has today priced its second issue of securities.

The issue is backed by a portfolio of the lender’s small to medium enterprises loans.

According to a company statement, Credit Suisse and Westpac were the joint arrangers for the $240 million transaction, which was recently upsized on the back of strong investor demand.


The $144 million Class A1 notes will be given a AAA rating, with a weighted average life of about one year, priced at a margin of 215 basis points over one month BBSW.

The $28 million Class A2 notes to be rated AAA, with a weighted average life of about one year, priced at a margin of 265 basis points over one month BBSW.

"We are extremely pleased to see investor participation and interest across the capital structure, which is a positive for the market and a strong endorsement of Liberty," Credit Suisse’s Will Farrant said.

The issue consists of a pool of SME mortgages with a weighted average loan-to-value ratio of approximately 63 per cent. In addition, the collateral is well seasoned at over 32 months.

The Liberty Series 2011-1 SME transaction will settle on 27 July 2011.

Read the latest issue of The Adviser magazine!
The Adviser is the number one magazine for Australia's finance and mortgage brokers. The publications delivers news, analysis, business intelligence, sales and marketing strategies, research and key target reports to an audience of professional mortgage and finance brokers
Read more