Australia-based lender Liberty Financial is revving up its third auto loan securitization, sized at A$101 million ($89.8 million). National Australia Bank and Macquarie Bank are leading the transaction.
The portfolio comprises 5,420 prime and non-conforming auto loans, with a weighted average loan-to-value ratio of 110%. The loans are spread across Australia, with a 37.5% concentration in Queensland and 33.5% in New South Wales.
The Melbourne-based company, which focuses on loans in the residential mortgages, motor vehicle finance, business finance and the commercial mortgage space, is a frequent participant in the securitization markets. Last month it launched Liberty CP Trust 2007-1, an asset-backed commercial paper program initially sized at A$400 million ($351.1 million) and administered by Secure Funding, a subsidiary of Liberty Financial (TS, 10/22). Officials at the firms involved could not be reached for comment by press time.