Eclipx starts marketing Turbo Series 2017-1 Trust ABS

Wednesday, 01 November 2017

On 1 November, Eclipx Group (Eclipx) began taking indications of interest on its latest asset-backed securities (ABS) transaction, Turbo Series 2017-1 Trust. The deal has indicative volume of A$329.36 million (US$252.3 million), according to arranger ANZ. National Australia Bank and Westpac Institutional Bank are additional lead managers.

Indicative price guidance and structure are as follows:

Class	Indicative volume (A$m)	Expected rating	Weighted-average life (years)	Indicative price guidance
A1	60	P-1/F1+	0.24	65-70 area
A2	207.13	Aaa/AAA	1.58	95-100 area
B	14.42	Aa2/AA	2.06	180-190 area
C	18.62	A2/NR	2.06	230-250 area
D	5.63	Baa1/NR	2.06	320 area
E	14.42	Ba1/NR	2.06	mid-high 500s
F	9.14	B1/NR	2.53	800 area

Source: Arranger 1 November 2017