Suncorp takes MBS offshore as Citi, AMP tap home mart

Australia's domestic prime mortgage backed securities market re-opened this week with a flurry of deals, while another issuer followed the now well-beaten path into the offshore market.

Citigroup last Friday launched a $500m Eurodollar MBS for Suncorp-Metway Ltd. Until now, Australia's sixth largest bank has only issued domestically, raising just under A$1.5bn since 1999.