FlexiGroup offers a broad range of options to securitisation investors, including assets in Australia and New Zealand and a pioneering green issuance programme. Paul Jamieson, the firm’s Auckland-based group treasurer, and Bianca Spata, head of group funding in Sydney, update on developments.
On 29 July, flexigroup revealed, via Westpac New Zealand, that it will redeem NZ$93 million (US$61.9 million) of Class A notes from its Q Card Trust programme. The notes are from the issuer’s 2017-2 and 2018-1 Q Card transactions and have a soft bullet maturity of 17 August. The redemption will be funded through principal collections and the issuance of variable funding notes.
The KangaNews Market People of the Year are the individuals who voters in the KangaNews Awards 2019 believe went above and beyond their roles to contribute to the development of the Australian and New Zealand debt markets. There are no restrictions on the firms, positions or seniority of winners – voters are simply asked to consider who contributed most to the market in either or both 2019 specifically or across the span of a career.
Residential mortgage-backed securities (RMBS) have always dominated the Australian securitisation market. However, a bustling consumer-finance sector sparked a clutch of nonmortgage asset-backed securities (ABS) transactions in 2019. Meanwhile, market participants say they expect more volume growth from new issuers.
Flexigroup says including green tranches all the way down the capital stack of its latest asset-backed securities (ABS) transaction was the best deployment of qualifying assets. The issuer says ‘dark-green’ investors remain thin on the ground in ABS transactions but it still benefited from its innovation in the green-bond space.