Eclipx Group (ASX:ECX) has announced the successful pricing of its seventh Australian asset backed securitisation (ABS), FP Turbo Series 2023-1 Trust, which is a $350m ABS backed by Australian operating, finance and novated finance lease receivables.
Eclipx Group says the ABS will reduce the cost of funds on the portfolio of assets funded by this transaction and was supported by capital markets investors.
Australia and New Zealand Banking Group, Commonwealth Bank of Australia and Westpac Banking Corporation acted as Joint Lead Managers for the transaction and settlement is expected to occur on 15 March 2023.
Following the announcement, shares of Eclipx Group were up 0.93%.