Ann: hummgroup announces pricing of A$427m ABS transaction, page-8

Funding secured!

$600m additional funding for commercial on the back of the $760m private placement back in August - that's a big top-up in just ~4 months.

"positioning us strongly for future expansion" - Good sign for continued commercial growth.

Interestingly they announce the listed ABS but not the private ones...

Also it's worth noting that the new warehouse structure of introducing mezzanine finance allows for greater leverage returns - capital employed is reduced from 20% to 5% in listed ABS and only 2% for private placements.

Just need to maintain lending discipline as leverage cuts both ways.