Following an unusually barren January for the Australian securitization market, St. George Bank finally got things rolling with the latest residential mortgage-backed deal from its Crusade program. The A$3 billion-equivalent ($2.2 billion) 144a private placement was issued in three currencies: U.S. dollars, euros and Australian dollars. It was St. George's 11th global offering and 18th MBS.

Credit Suisse and Deutsche Bank acted as joint lead managers for the five-tranche transaction, which has a legal final of July 2038.

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