Australia picks first A$1bn investment
The Australian government is set to invest up to A$1bn ($643m) in a pair of RMBS deals from FirstMac and Members Equity, as it positions itself as a key investor in the flagging market. The government, which has set aside A$8bn to buy mortgaged-backed debt, will be hoping that other investors will join in on the deals, which are expected to price by the middle of November.
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