On 19 June, FlexiGroup revealed plans for a possible New Zealand dollar denominated asset-backed securities (ABS) transaction from its Q Card Trust programme. BNZ and Westpac New Zealand have been mandated to engage institutional investors regarding the potential deal.
FlexiGroup became the first issuer in the Australian market to include green subordinated notes in an asset-backed securitisation (ABS) deal with its latest transaction. Deal sources say the expansion of green tranches into the double-A rating space is a continuation of FlexiGroup’s plan to broaden its investor base through the issuance of green product.
On 1 May, FlexiGroup launched its asset-backed securities (ABS) transaction, Flexi ABS Trust 2018-1, for an indicative A$300 million (US$226 million). KangaNews understands the structure includes two green tranches, Class A2-G and Class B-G notes, which have a combined indicative volume of A$81.3 million.
On 24 April, FlexiGroup began taking indications of interest for its asset-backed securities (ABS) transaction, Flexi ABS Trust 2018-1. The deal has indicative total volume of A$300 million (US$228 million) and may launch in the week commencing 30 April, according to lead managers Commonwealth Bank of Australia and National Australia Bank.
On 9 April, FlexiGroup revealed plans to engage with investors in Australia and New Zealand regarding a possible Australian dollar-denominated asset-backed securities (ABS) transaction, which will include green tranches. Commonwealth Bank of Australia and National Australia Bank have been mandated to arrange the meetings, commencing in the week beginning April 16.