SYDNEY, March 24 (Reuters) - The Australian government has chosen another three residential mortgage backed securities (RMBS) issues to invest in as part of an effort to inject much-needed liquidity into the home-loan market.
The Australian Office of Financial Management (AOFM) said on Tuesday it would participate as a cornerstone investor in each of the three offers, as part of its A$8 billion ($5.2 billion) RMBS purchase plan launched late in 2008.
The three offers are:
* National Australia Bank as arranger and joint lead manager and Deutsche Bank and Credit Suisse as joint lead managers of an issue for Liberty Financial Pty Ltd.
* National Australia Bank as arranger and joint lead manager and Deutsche Bank and Barclays Capital as joint lead managers of an issue for Challenger Mortgage Management Pty Ltd.
* Westpac as arranger and joint lead manager and The Royal Bank of Scotland as joint lead manager of an issue for Bank of Queensland Ltd.
The AOFM said it would review the remaining planned bond issues and announce further investments in due course.
Australian non-bank lenders have been hit hard since the U.S. subprime mortgage crisis because they are reliant solely on the securitisation market to fund operations.
(Reporting by Wayne Cole; Editing by Mark Bendeich) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com ) Keywords: AUSTRALIA RMBS/ (wayne.cole@reuters.com ; +61 2 9373 1813; Reuters Messaging: wayne.cole.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
The Australian Office of Financial Management (AOFM) said on Tuesday it would participate as a cornerstone investor in each of the three offers, as part of its A$8 billion ($5.2 billion) RMBS purchase plan launched late in 2008.
The three offers are:
* National Australia Bank as arranger and joint lead manager and Deutsche Bank and Credit Suisse as joint lead managers of an issue for Liberty Financial Pty Ltd.
* National Australia Bank as arranger and joint lead manager and Deutsche Bank and Barclays Capital as joint lead managers of an issue for Challenger Mortgage Management Pty Ltd.
* Westpac as arranger and joint lead manager and The Royal Bank of Scotland as joint lead manager of an issue for Bank of Queensland Ltd.
The AOFM said it would review the remaining planned bond issues and announce further investments in due course.
Australian non-bank lenders have been hit hard since the U.S. subprime mortgage crisis because they are reliant solely on the securitisation market to fund operations.
(Reporting by Wayne Cole; Editing by Mark Bendeich) (If you have a query or comment on this story, send an email to news.feedback.asia@thomsonreuters.com ) Keywords: AUSTRALIA RMBS/ (wayne.cole@reuters.com ; +61 2 9373 1813; Reuters Messaging: wayne.cole.reuters.com@reuters.net) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.