La Trobe Financial has mandated Commonwealth Bank of Australia, Macquarie Bank, National Australia Bank and Westpac Banking Corporation to arrange a series of debt investor meetings commencing 27 February 2017. "A non-conforming RMBS transaction may follow subject to market conditions," according to one of the bankers involved. The Victorian government is to set up a A$1 billion Social Housing Growth Fund, "a collaboration between government, the private and philanthropic sectors", though it has not identified the other parties. Registered housing associations will be able to borrow funds for new homes "at a lower interest rate", the government said. The government will act as guarantor. Payments fintech Afterpay has agreed to merge with listed group Touchcorp through an all-scrip transaction that will create a A$500 million software services and payments industry player, the AFR reports. Under the deal, a new listed entity will acquire Afterpay and Touchcorp in separate schemes of arrangement. Effectively the deal reflects a scrip takeover where Touchcorp is folding into Afterpay. The two hope the merger will deliver "revenue growth opportunities," through the coupling of Afterpay's  retail network with Touchcorp's technology.