The surge in activity by Australian issuers continued last week with National Australia Bank (NAB), IMB, Interstar and Resimac launching or closing deals. NAB is self-leading a $1.4935 billion synthetic balance sheet CLO, tied to a pool of domestic and international corporate loans. Pricing is expected on Sept. 20. The transaction follows hot on the heels of ANZ Bank, due to price a A$975 million ($730.9 million) CLO through the Resonance SPV (ASR, 09/11/06). NAB's deal, which has an expected maturity of 4.75 years, will be sold via the Southern Cross SPV. The bank tapped the facility in December 2005 with a $1.3 billion issue. The latest issue will, through the sale of credit-linked notes, transfer the risk on a pool of 111 loans worth $1.55 million. Australian and New Zealand entities represent 64% of the total, with European, North American and Hong Kong obligors making up the remainder.