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This is how Flexi does its financing - it has done this for many...

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tamz

4,901 Posts.

515

21/10/20

08:32

Post #: 48253865
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Originally posted by SilverTrade: ↑

HI Everyone, this was posted by Shaslik in a different forum....does anyone know what this means or has opinion on this.

""
CBA, NAB launch FlexiGroup securitisation

Arrangers CBA and NAB launched the deal on Tuesday, blasting terms for the proposed Flexi ABS Trust-1 deal and indicative pricing to potential investors.
The deal was worth $250 million and was split across seven tranches.
The biggest was the $181 million Class A tranche, which investors were told was likely to be rated AAA(sf) by Moody's and AAAsf by Fitch.
Price guidance was 120 to 130 basis points above the one month bank bill swap rate for the Class A notes.
Investors were told the deal was due to price on Thursday.
The launch came after Flexi and its brokers spent the past few days pitching to potential investors, and hot on the heels of Zip Co's$300 million raising for its Zip Master Trust series.""

Thanks in advance

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This is how Flexi does its financing - it has done this for many years. Rather than having a loan from a bank, it bundles up the debt that it is owed and sells it off

https://www.investopedia.com/terms/s/securitization.asp

FXL Price at posting: $1.10 Sentiment: Hold Disclosure: Held
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