First Aussie CMBS refinancing priced

The renewal of Leda Group''s A$215.2 million deal in 1999 prices just outside the original.

The Leda Group, the privately owned Australian property developer, yesterday priced the country's first refinancing of a commercial mortgage backed securitization CMBS. Fittingly, the deal that is being refinanced - a A$215.2 million $120.8 million issue launched in December 1999 and due to mature on December 3 - was one of the first CMBS deals to hit the Aussie market, and the first by a private company rather than a listed property trust.

ANZ Investment Bank, which put together...

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