FSA Group Limited (ASX:FSA) Prices $250 Million ABS Transaction
Transaction Overview
FSA Group Limited has successfully priced a $250 million Asset Backed Securities (ABS) transaction, named Azora ABS 2024-1P. This transaction is underpinned by automobile and equipment consumer and commercial receivables. It is projected to settle in the third week of December, pending standard conditions.
Strategic Importance
This marks FSA Group’s inaugural ABS transaction. National Australia Bank Limited served as the Arranger, while Westpac Banking Corporation and National Australia Bank Limited acted as Joint Lead Managers.
Executive Comments
Tim Odillo Maher, Executive Director of FSA Group, expressed enthusiasm regarding the transaction. “Our first ABS transaction is a significant achievement and endorsement of our loan origination and specialist servicing skills,” Maher stated. He further emphasized that accessing the debt capital markets aligns with their strategy of diversifying funding and supports future growth plans. Maher extended gratitude to the involved banks and investors for their participation in this landmark transaction.
Motley Fool contributor Lianne Eastty has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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