Consumer lender Plenti Group has completed its inaugural issue of asset-backed securities, raising A$306.6 million of funding.

Plenti Auto ABS 2021-1 is backed by a portfolio of secured auto loan receivables. Plenti said 87.8 per cent of the notes are expected to be rated Aaa by Moody’s.

The weighted average margin is 97 basis points over the one-month bank bill swap rate. The A notes – worth $262.5 million – were priced at a margin of 80 bps.

There was $6.3 million of A-x notes, which were not collateralised and excluded from credit support calculations. They were priced at a margin of 80 bps.

The B to F notes were priced between 110 bps and 620 bps.