(Australia) – National Bank of Australia (NAB) has priced Interstar’s second 2003 issue at a finalised issue size of A$550 million.Sold to over 30 investors the deal closed oversubscribed and immediately preceded a separate settlement on a second public debt issue for a subsidiary of MLC Limited – Medfin. At A$151.5 million Medium Term Note the issue was also oversubscribed backed by auto and equipment loans, leases and hire purchase agreements with medical practitioners.
East sees the Receivables Funding market in Australia going through a renewed growth phase as new securitised back office solutions come to market over the next six months.