FlexiGroup Ltd is an Australian and NZ consumer and SME leasing company and issuer of ABS backed by portfolios of consumer receivables. Flexigroup has its own origination platform for this transaction via the wholly owned subsidiary Certegy Ezi-Pay.
In April 2016 FlexiGroup issued the first Climate Bonds Certified Asset Backed Security (ABS). The proceeds were allocated to refinancing residential rooftop solar PV systems. This was the first asset backed green bond in Australia.
In March 2019, Flexigroup issued their 4th issuance. This AUD 90 million issuance received an AUD 10 million investment from Australia's Clean Energy Finance Corporation, a state backed Green Bank, in order to expand their residential rooftop solar battery energy storage systems.
NAME OF BOND |
DATE OF ISSUE |
TYPE OF INSTRUMENT |
SIZE |
TENOR |
COUNTRY OF ISSUE |
CLIMATE BONDS SECTOR CRITERIA |
VERIFIER'S REPORT |
ANNUAL REPORT | FURTHER INFORMATION |
---|---|---|---|---|---|---|---|---|---|
Flexi ABS Trust 2016-1 Class A2-G Notes (note REDEEMED July 2017) |
April 2016 |
Asset backed securities | AUD 50m (USD 39m) | Fully Redeemed July 2018 | Australia | Solar | |||
Flexi ABS Trust 2017-1 Class A2-G Notes (note REDEEMED in July 2019) |
Feb 2017 | Securitised bond | AUD 50m (USD 38m) | Fully Redeemed July 2017 | Australia | Solar | |||
Flexi ABS Trust 2018-1 Class A2-G and Class B-G ABS Notes | May 2018 | Asset backed securities | AUD 81.3m (USD 61.7m) | multiple | Australia | Solar | DNV GL pre issue report | ||
Flexi ABS Trust 2019-1 A2-G Notes, B-G Notes, C- Notes |
March 2019 | Asset backed securities |
AUD 90.9m (USD 65m) |
5 years | Australia | Solar | |||
Flexi ABS Trust 2019-2 A1-G Notes, B-G Notes, C-G Notes D-G Notes E-G Notes |
November 2019 | Asset backed securities |
AUD 102.82m (USD 70m) |
up to 31 years | Australia | Solar | |||
Flexi ABS Trust 2020-1 A1-G Notes, B-G Notes, C-G Notes, D-G Notes, E-G Notes |
October 2020 | Asset backed securities | AUD 109m (USD 76.8m) | up to 16 years | Australia | Solar | DNV.GL pre issuance |
Note: As with all Climate Bond Certifications, the green bond has been verified by a third party as complying with the overarching Climate Bonds Standard (an assessment process for the management and allocation of proceeds) as well as asset specific eligibiltiy criteria (covering the technical aspects of the green assets).
Asset backed securities |