Firstmac has launched an issue of residential mortgage-backed securities, seeking A$350 million of funds. Firstmac Mortgage Funding Trust No.4 Series 2-2016 is backed by a pool of prime mortgages, which have an average loan size of $365,935 and an average loan-to-valuation ratio of 67.5 per cent. Close to half (44.1 per cent) of the loans have interest-only periods of up to ten years. Receivables finance company CML Group has launched a A$15 million extension of its corporate bond facility. CML issued its first bond in April last year, raising $25 million, and raised another $25 million in March. The new fund raised will go towards the acquisition of invoice finance company 180 Group. The company has also launched a $5.2 million equity raising.