Vendor finance specialist FlexiGroup completed the sale of its first issue of asset-backed securities yesterday, raising A$210 million through Flexi ABS Trust 2013-1.The trust is backed by a portfolio of 27,000 lease receivables, including operating leases and finance leases for equipment such as printers, copiers, computers and telephone systems.The $152 million A tranche, which has a weighted average life oof 1.47 years, was priced at 120 basis points over the one-month bank bill swap rate.The $11.5 million B tranche, which has a weighted average life of 1.88 years, was priced at 180 bps over the swap rate.FlexiGroup did not disclose the pricing on the other four tranches. Westpac was the arranger and sole lead manager for the transaction.