Investec tests market for asset-backed paper-source

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SYDNEY, July 14 (Reuters) - Investec Bank (Australia) met
debt investors last week to gauge investor appetite for
asset-backed securities, a source who attended the meetings
said.

The presentations focused on Investec' s medical
professional financing business such as auto and equipment
leases.

"Investec used last week's meetings to promote the asset
class and initiate dialogue with investors on the state of the
asset-backed market generally and to gauge potential investor
appetite for future transactions," the source said.

ANZ bank, which arranged the meetings, declined to comment.

Investec Bank (Australia), a unit of dual-listed
Anglo-South African bank Investec (INLJ.J) (INVP.L), declined
to comment.

Asset-backed issuance, including mortgages, has been hit
hard by the U.S. subprime mortgage crisis.

Nearly A$6 billion worth of residential mortgage-backed
securities has been issued this year, according to National
Australia Bank data, with almost all of it bought by the
Australian government.

There has been no other types of asset-backed offers such
as commercial mortgage-backed or auto-loan receivable issues in
Australia this year.

(Reporting by Cecile Lefort; Editing by Mark Bendeich)