FlexiGroup ABS issue includes green bond
FlexiGroup Consumer finance company FlexiGroup has raised A$260 million through an issue of securities backed by unsecured payment plans.The finance was originated by FlexiGroup's Certegy Ezi-Pay business, which sells no-interest loans.The transaction included a "green tranche" - a $50 million note (A2-G) backed by solar photovoltaic receivables. The note has been climate bond certified by the Climate Bonds Standard Board, which is based in London.FlexiGroup chief executive Symon Brewis-Weston said in a statement that soar funding represented a significant portion of the Certegy business.Pricing on the $91 million of A1 notes was 75 basis points over the one-month bank bill swap rate.Pricing on the $60.5 million of A2 notes was 155 bps over BBSW. Pricing on the A2-G notes 150 bps over BBSW.Pricing on the B notes was 225 bps over BBSW. Pricing on the C, D and E notes was not disclosed.