Members Equity rounded off a record six months of offshore issuance by Australian mortgage securitizers when it priced and signed its first international offering, a US$700 million global transaction structured as a eurobond with 144A "bolt on" documentation.

The deal brought to A$7.3 billion (US$4.39 billion) equivalent the volume of offshore MBS deals by Australians so far this year, compared to A$3.5 billion in the domestic market and A$6 billion offshore for the whole of 1999.

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