Consumer lender Plenti Group has completed an issue of asset-backed securities, raising A$280 million of funds in a deal, Plenti PL-Green ABS 2022-1, that included $65 million of green notes.
Plenti priced the A1 notes, with a value of $147.8 million, at 120 basis points over the one-month bank ill swap rate.
The green notes (A1-G), which are certified under the Climate Bonds Standard, were also proceed at a margin of 120 bps.
The B through to F notes were priced in a range from 175 bps to 675 bps.
Plenti chief financial officer said the pricing would reduce the company’s funding costs
Plenti PL-Green ABS 2022-1 is the company second ABS issue. It made its debut ABS issue last August, when it raised $306.6 million.
The green notes support the company’s strategy of growing its household renewables finance and electric vehicle finance business.