Financial Times FT.com

Subprime fall-out

Rams seeks to shore up funding sources

By Peter Smith in Sydney

Published: August 28 2007 09:48 | Last updated: August 28 2007 09:48

Rams Home Loans, the Australian residential home loan provider hit hard by turmoil in the debt markets, is in discussions with local and international banks to help shore up its sources of funding.

The recently floated group this month said it had failed to sell A$6.17bn of extendable commercial paper in the US and now had 180 days to find buyers for the debt.

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