FlexiGroup launches ABS deal including green tranches
- Tuesday, 01 May 2018
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$81.3 million.
Flexi ABS 2018-1 indicative price guidance and structure
|Tranche||Indicative volume (A$m)||Expected rating (Moody's/Fitch)||Credit enhancement (per cent)||Weighted-average life (no. of years)||Indicative price guidance (bp/1m BBSW)|
Source: National Australia Bank 1 May 2018
Pricing is expected on or before 4 May, according National Australia Bank which is arranging the transaction and leading alongside Commonwealth Bank of Australia.
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