First Aussie CMBS refinancing set to go

The Leda Group''s A$215.2 million deal in 1999 comes up for renewal.

The Leda Group, a privately-owned Australian property developer, will launch the country's first refinancing of a commercial mortgage backed securitization CMBS next week. Fittingly, the deal that is up for renewal - 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...

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