insto - Australian financial markets

Liberty Financial priced its A$200 million Liberty Prime Series 2010-1 RMBS issue, with eight tranches at weighted average life ranging from 0.8 to 4.0 years.

The details are:
Issuer: Liberty Financial
Size: A$200 million
Pricing: 11 August 2010
Settlement: 18 August 2010
Lead managers: Deutsche Bank, Credit Suisse, NAB

Capital Finance prices A$500m Bella auto-backed ABS

Capital Finance Australia priced A$500 million Class A2 notes of the Bella Trust Series 2010-1 at 1-month BBSW+165 basis points, the joint lead managers said.

The class A2 notes (the only class of the Series 2010-1 to be sold) were rated AAA by Fitch and Aaa by Moody's. The A2 notes have a WAL of 1.5 years and 18.3 percent of credit support.

FirstMac prices $339 m RMBS

Australian home-loan provider FirstMac today priced its $339 million RMBS, sole lead manager ANZ said. The issue was a refinancing of the FirstMac Bond Series 1C-2006 Trust.

Gary Sly, ANZ debt capital markets director, said the issue was “a standalone deal with no AOFM support sold to Aussie investors.” A similar RESIMAC RMBS priced last week had AOFM support, but the AOFM’s allocation was scaled back to fulfill investor demand.

Investec prices inaugural $240m ABS

Investec today priced its inaugural $240.7 million ABS, Impala Trust Series 2010-1, issued for its Experien unit to finance dentists’ and doctors’ equipment and cars.

Paul Siviour, co-head of private banking at Investec, said: “We sold the AAA tranche at 165, and the AA tranche at 220 basis points, and we were delighted to hold the rest.”

“We are pleased with the support from investors, which reflects the strength of our business as well as the underlying quality of receivables,” he added.