The Avanti Finance Group has successfully completed its first issuance of automotive asset-backed securities (ABS) in Australia, which it attributes to the growth of its auto lending business.
The A$250 million issuance is a key part of Avanti Finance’s funding strategy and reflects the diversity of its lending portfolio, the group says.
Through subsidiary Branded Financial Services, Avanti Finance has capitalised on the growth of the automotive lending market in Australia by opening up its service proposition to more dealers and brokers, and, in turn, more customers.
“Our automotive lending side of the business has been growing well on both sides of the Tasman, particularly since COVID,” says Avanti Finance Group treasurer Paul Jamieson.
“The strength of our book, along with our expanded distribution platform and service proposition will enable us to continue that growth,” he adds.
“The success of our ABS issuance shows the confidence our investors have in us.
“It also means that our dealers can trust that we’ll continue financing their customers now and far into the future,” says Jamieson.
“We’ll also soon be exploring an ABS issuance in New Zealand to further strengthen our position.”
