In the Process of 'Securitisation

In the process of 'securitisation':

A) a parcel of small- denomination assets is sold by issuing a large- denomination certificate backed by those assets.
B) the cash shortfall caused by Commonwealth budget deficit is funded by the issue of debt securities.
C) a borrower fully repays a debt security.
D) a company that has never issued shares before becomes listed on the stock exchange.