Australian issuers of mortgage-backed securities in the Euromarkets are diversifying their funding strategies to avoid what they regard as a funding squeeze similar to the one that has driven them out of the domestic market.

Rams Mortgage Corp., the country's second-biggest non-bank originator, last week issued the equivalent of A$1.15 billion (US$750 million) in a mixture of U.S. dollars and euros, tapping the euro-denominated market for the first time.

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