Angle Asset launches A$250 million Radian 2023-2 ABS

Disclosure type: launch
Issue name: Radian Trust 2023-2P
Sponsor: Angle Asset Finance
Announcement date: 6 September 2023
Expected pricing date: this week or week commencing 11 September 2023
Expected settlement date: 14 September 2023
Arrangers and lead managers: National Australia Bank, Standard Chartered Bank
Transaction type: asset-backed securities
Collateral type: auto and equipment receivables
Indicative volume: A$250 million (US$159.7 million), no grow

 

 

Radian Trust 2023-2P indicative structure and price guidance

TrancheIndicative volume (A$m)Expected rating WAL (no. of years)Initial credit support (per cent)Price guidance (bp/1m BBSW)
A 196 Aaa 1.9 21.6 150
B 17.5 Aa2 2.4 14.6 ND
C 10 A2 2.4 10.6 ND
D 6.75 Baa2 2.4 7.9 ND
E 7.25 Ba1 2.4 5 ND
3 B1 2.4 3.8 ND
G 2.5 B2 2.4 2.8 ND
Seller 7 NR 3 N/A ND

Source: National Australia Bank 6 September 2023