Liberty Financial releases first Aussie auto ABS

Liberty Financial rolls out Australia''s first ever auto securitisation.

Australasia's leading specialist finance provider, Liberty Financial, has priced Australia's first ever asset-backed securitization backed by prime and non-conforming auto loans. The deal is a four-tranche A$100 million offer via lead manager Macquarie Bank.

The Class A tranche is rated triple-A and carries an expected average life of one-and-a-half years. It was initially marketed at 25-35bp over 30-day BBSW.

The Class B tranche rated BBB carries an expected life of 3.3 years and was marketed at 60bp-70bp over 30-day BBSW. The Class C tranche rated BB carries an expected life of 3.3 years and was marketed at 200bp-300bp over 30 day-BBSW. The Class D unrated...

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