Motor Trade Finances offers rare auto ABS

By Tom Porter
10 Jul 2014

Auto finance network Motor Trade Finances has unveiled a New Zealand dollar auto ABS transaction, offering investors a rare chance to buy a securitization denominated in the currency.

The lender structured a seven tranche NZ$150bn (€96m) stack of pass-through floating rate notes, according to a Fitch presale report, and has appointed Commonwealth Bank of Australia and Westpac as lead managers.

The trade comprises a triple-A rated NZ$132.3m 2.87 year senior note with 11.8% credit enhancement, on ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial