Angle Asset launches A$250 million Radian 2023-2 ABS

Wednesday, 06 September 2023

Disclosure type: launch
Issue name: Radian Trust 2023-2P
Sponsor: Angle Asset Finance
Announcement date: 6 September 2023
Expected pricing date: this week or week commencing 11 September 2023
Expected settlement date: 14 September 2023
Arrangers and lead managers: National Australia Bank, Standard Chartered Bank
Transaction type: asset-backed securities
Collateral type: auto and equipment receivables
Indicative volume: A$250 million (US$159.7 million), no grow

Radian Trust 2023-2P indicative structure and price guidance

Tranche	Indicative volume (A$m)	Expected rating	WAL (no. of years)	Initial credit support (per cent)	Price guidance (bp/1m BBSW)
A	196	Aaa	1.9	21.6	150
B	17.5	Aa2	2.4	14.6	ND
C	10	A2	2.4	10.6	ND
D	6.75	Baa2	2.4	7.9	ND
E	7.25	Ba1	2.4	5	ND
F	3	B1	2.4	3.8	ND
G	2.5	B2	2.4	2.8	ND
Seller	7	NR	3	N/A	ND

Source: National Australia Bank 6 September 2023