Macquarie Group is arranging to refinance an issue backed by commercial mortgages, the Australian investment firm said Monday.

CEO Steven Sewell said his firm is engaged in advanced discussions with a number of CMBS investors regarding the offering.

The last deal of this type made by the trust occurred in 2006, when it sold $369 million of CMBS maturing this December.

Sewell said this time the deal will have a lower amount, but will be backed by the same collateral as the 2006 issue, which, he said, should be completed in the next two to three months.

Macquarie said it will use cash to pay the difference and National Australia Bank is lead arranging the offer.

Aside from Macquarie's deal, there have been no other types of ABS deals such as auto-loan securitizations in Australia this year.


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