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Liberty Financial Pty Ltd has completed its 100th capital markets transaction, reaching the milestone with what is described as both its largest securitisation to date and the largest Australian non-conforming residential mortgage-backed security (RMBS) issued so far.
Non-bank lenders such as Liberty have become regular issuers in the Australian securitisation market, where non-conforming RMBS provide funding to borrowers who may not meet traditional bank lending criteria. Industry analysts note that issuance in this sector has remained active in 2025 despite broader capital markets volatility.
The transaction follows Liberty’s long track record in securitisation. Earlier this year, the group priced its Liberty Series 2025-1 RMBS at $1.5 billion, more than double the original offer size of $750 million, reflecting strong investor demand. That deal was its 84th term securitisation and its 54th RMBS backed by residential mortgages.
As part of the latest transaction, National Australia Bank (NAB) acted in several roles, including Sole Arranger, Joint Lead Manager, Liquidity Facility Provider, and Cross Currency Swap Provider.
NAB also confirmed the transaction involved a broad team across its capital markets unit, naming Andrew Downes, Anthony Villante, Ariel Wu, Ben H., Craig Stevens, John McClusky, Krista Baetens, Matt Price, Rodney Wallis, Sarah Samson, Sharyn Le, Tom Mazzaferro, William Bayfield, and Yuvita Ie.
“Congratulations, Liberty, on 100 transactions and counting,” NAB’s statement read.
