MTF launches NZ$280 million ABS deal

Tuesday, 21 February 2023

Disclosure type: launch
Issue name: MTF Opala Trust 2023
Sponsor: Motor Trade Finance
Announcement date: 21 February 2023
Expected pricing date: 22 February 2023
Lead managers: Commonwealth Bank of Australia, Westpac New Zealand
Collateral type: consumer and commercial auto finance receivables
Indicative volume: NZ$280 million (US$175.1 million)

MTF Opala Trust 2023 indicative structure and price guidance

Tranche	Indicative volume (NZ$m)	Expected rating (F)	Weighted-average life (no. of years)	Initial credit support (per cent)	Price guidance (bp/1m BKBM)
A	246.4	AAA	2.3	12	160 - 165
B	9.1	AA	2.9	8.75	ND
C	9.2	A	2.9	5.46	ND
D	6.4	BBB	2.9	3.18	ND
E	4.8	BB	2.9	1.46	ND
F	1.6	B	2.9	0.89	ND
Seller note	2.5	NR	2.9	ND	ND

Source: Commonwealth Bank of Australia 21 February 2023

The class A tranche is 96 per cent available. Tranches B to F are not available.