Rating agency Standard and Poor's has assigned a AAA rating to $87.7 million of notes and AA to $2.8 million, with the balance of $9.5 million of unrated notes held by MTF.
Managing director Angus Bradshaw said in a brief market statement the notes, with an aggregate expected four-year term, would provide MTF with "competitive, longer-term funding".
Craigs Investment Partners broker Peter McIntyre said MTF would want to diversify the amount available for lending and borrowing times, saying the full subscription was recognition, "in a tough market", MTF had performed well in recent years.
The notes are backed by loan repayments on vehicles, which originate from MTF dealers and franchises, who are all MTF shareholders.
For its half-year trading to March, MTF delivered an after-tax profit of $2.4 million, compared with $2.9 million for the same period a year ago, on total assets of $404.9 million.
