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AOFM backs Liberty RMBS

Liberty Financial has raised A$500 million through an issue of residential mortgage-backed securities, with the Australian Office of Financial Management buying $64.5 million of notes.

The transaction includes a ¥26.3 billion Class A1 tranche. The yen notes, which have a weighted average life of 2.4 years, were priced at a margin of 50 basis points over three-month Japanese yen Libor – currently 3.2 bps.

The A2 notes, purchased by the AOFM, have a weighted average life of 2.4 years and were pieced at a margin of 120 bps over one-month BBSW.

Pricing on the B through to G notes was not disclosed.

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