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 together the first deal, continues in its role as lead manager. The bank earlier this week held roadshows in Brisbane, Melbourne and Sydney and will price the A$202.88 million refinancing on November 28.

Leda is...

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