Staff Reporter
,
Australia
The issue is backed by 3,976 residential mortgage loans by an NAB unit.
National Australia Bank, Australia's top lender, said on Wednesday it was securitising A$750 million ($796.5 million) in residential mortgages for the first time in five years.
The issue is backed by 3,976 residential mortgage loans originated by a unit of NAB and expected to be priced next week, according to a report in Reuters.
Australian banks stayed away from the residential mortgage securitisation market as costs shot up amid investor aversion for mortgage securities during the global financial crisis.
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