Forget big deals such as the A$200 million (US$148 million) Eurobond issue from National Australia Bank (NAB) or the syndicated loan for Telstra Corporation worth A$3 billion, the truly ground-breaking Australian deal of the past 12 months was an issue arranged by JP Morgan worth only A$30 million. This is the deal that has allowed a new generation of mortgage providers to challenge the near monopoly of Australian banks in the home loan mortgage market.
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