Liberty issues RMBS
Liberty Financial has completed the second issue of residential mortgage-backed securities for the year, raising A$300 million of funds.Liberty will pay 70 basis points over the one-month bank bill swap rate on the $40 million of A1a notes, which have a weighted average life of 0.15 years.Pricing on the $176 million of A1b notes, which have a weighted average life of 2.5 years, is 165 bps over one-month BBSW.Pricing on the $42 million of A2 notes, which have weighted average life of 2.5 years, is 225 bps over one-month BBSW.Pricing on the B, C, D, E, and F notes was not disclosed.Liberty said the loans in the mortgage pool were a mix of prime and "custom mortgages".