Metro Finance launches ABS deal

On 30 June, Metro Finance launched a capped A$300 million (US$205.5 million) auto and equipment asset-backed securities (ABS) transaction, Metro Finance 2020-1 Trust. The forthcoming deal is expected to price on or before 2 July, according to arranger National Australia Bank, which is also joint lead manager with Deutsche Bank.

Metro Finance 2020-1 Trust

Tranche Indicative volume (A$m) Expected ratings (M) Weighted-average life (no. of years) Initial credit enhancement (per cent) Indicative price guidance (bp/1m BBSW)
A-S 109 Aaa 0.7 17.6 105-110 area
A-L 138.2 Aaa 2.9 17.6 170-175 area
B 18.6 Aa2 3.1 11.4 275-280 area
C 11.1 A2 3.1 7.7 340-350 area
D 5.1 Baa2 3.1 6 440-450 area
E 9.3 Ba2 3.1 2.9 ND
GA 4.95 NR 3.1 N/A ND
GB 3.75 NR 3.1 N/A ND

Source: National Australia Bank 30 June 2020

Global Reach. Local Expertise
KangaNews is the trading name of BondNews Limited, a company registered in the UK and Australia. With our head office in Sydney and a satellite office in Europe, we are positioned to provide a one-stop information service on the Australasian fixed-income markets.
NEWS
START YOUR FREE TRIAL
© Copyright 2025 KangaNews Global Reach. Local Expertise About us Terms of Use Privacy Policy Contact