On 2 August, Flexigroup began marketing its new asset-backed securities (ABS) deal under its Q Card Trust programme. The forthcoming transaction has indicative volume of NZ$250 million (US$163.6 million), including the refinance of NZ$136.25 million maturing notes, and is expected to launch in the week beginning 5 August. Westpac New Zealand is arranger for the deal and joint lead manager alongside BNZ.