Macquarie lines up third global MBS

Company becomes first Aussie entity to confirm plans for US$ deal in 2003.

Macquarie Securitisation, the wholly owned subsidiary of Macquarie Bank and Australia's largest issuer of mortgage-backed securities, has confirmed it will soon launch its third global securitization.

The company, who completed $1.2 billion and $1 billion deals in September 2001 and June 2002, has appointed Deutsche Bank, JPMorgan and Salomon Smith Barney to underwrite its latest $1 billion deal. Deutsche - lead manager on Macquarie's last global offering - will also provide the swaps for the third transaction.

The deal, to be launched out of the PUMA Global Trust vehicle, will securitize a pool of 7,393 housing loans worth around A$1.4 billion. The weighted average loan-to-value of the mortgages is 75.73%....

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