Automotive lender’s first ABS issuance in Australia

The Avanti Finance Group has efficiently accomplished its first issuance of automotive asset-backed securities (ABS) in Australia, which it attributes to the expansion of its auto lending enterprise.

The A$250 million issuance is a key a part of Avanti Finance’s funding technique and displays the variety of its lending portfolio, the group says.

By means of subsidiary Branded Monetary Companies, Avanti Finance has capitalised on the expansion of the automotive lending market in Australia by opening up its service proposition to extra sellers and brokers, and, in flip, extra prospects.

“Our automotive lending aspect of the enterprise has been rising nicely on either side of the Tasman, significantly since COVID,” says Avanti Finance Group treasurer Paul Jamieson.

“The energy of our ebook, together with our expanded distribution platform and repair proposition will allow us to proceed that progress,” he provides.

“The success of our ABS issuance reveals the boldness our traders have in us.

“It additionally implies that our sellers can belief that we’ll proceed financing their prospects now and much into the long run,” says Jamieson.

“We’ll additionally quickly be exploring an ABS issuance in New Zealand to additional strengthen our place.”