FlexiGroup prices ABS 27 April 2015 3:39PM John Kavanagh Store finance company FlexiGroup has completed its first issue of asset-backed securities since June last year, raising A$201 million of funds.Flexi ABS Trust 2015-1 is backed by a portfolio of leases for a range of equipment including printers, copiers, faxes and fitness equipment. The 12,990 contracts have an average size of $15,938.The A notes, which are worth A$157.5 million and have a weighted average life of 1.52 years, were priced at 105 basis points over the one-month bank bill swap rate.Pricing on the $12.6 million of B notes, which have a weighted average life of 1.93 years, was 145 bps over swap.Pricing on the C, D and E notes was not disclosed.The latest issue is not directly comparable with FlexiGroup's issue last June, which had a different asset mix and a short-term A1 note. Allowing for the differences, pricing does appear to have become a little more expensive.Pricing on the A2 notes of Flexi ABS 2014-1 was at a margin of 100 bps and pricing on the B notes was at a margin of 140 bps.