Three months after pricing its biggest ever issue of asset-backed securities, humm group was back in the securitisation market this week raising A$260 million.
humm ABS Trust 2021-1 is supported by a pool of unsecured consumer receivables originated under its buy now pay later offering, including funding for solar installation, healthcare and home improvements.
Pricing on the senior notes, $177.8 million of A1 notes was 65 basis points over the one-month bank bill swap rate.
The $10.4 million of A1-G (green) notes were also priced at a margin of 65 bps and the $28.1 million of B-G notes were priced at a margin of 110 bps.
Pricing of the C-G to E-G notes ranged from 145 to 420 bps.
In March, humm securitised a portfolio of receivables originated by its flexicommercial division, upsizing the transaction from $300 million to $450 million.
flexicommercial ABS Trust 2021-1 is backed by secured commercial auto and equipment finance receivables. It is the third flexicommercial securitisation and the biggest humm group asset-backed securitisation to date.
Pricing on the senior notes, $301.5 million of A notes was 83 bps over one-month BSW.