Azora Successfully Prices Inaugural $250 Million ABS Deal

Azora is pleased to announce that it has priced its inaugural $250 million Asset Backed Securities (ABS) transaction, Azora ABS 2024-1P Trust, comprising Australian prime automobile & equipment backed consumer and commercial loan receivables. This transaction, which will settle on 19 December, marks a significant milestone for Azora as we continue to broaden our lending activities in support of Australian consumers and SME businesses seeking to acquire motor vehicles and business critical equipment.

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Azora’s commercial asset finance and consumer car loans businesses continue to  experience robust growth, ably supported by our Australia-wide network of accredited finance brokers and direct-to-consumer channels. The Azora ABS 2024-1P transaction creates additional lending capacity across our major-bank sponsored warehouse facilities, whilst providing significant funding cost efficiencies to the broader Azora non-bank lending business.

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Azora's Executive Director, Tim Odillo Maher, commented:

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“Our first ABS transaction is a significant achievement and endorsement of our loan origination and specialist servicing skills. Accessing the debt capital markets, is a key step in our strategy of diversifying our funding. More importantly, it provides us with fresh funding capacity to pursue our growth strategy over the next few years. We thank National Australia Bank, Westpac Banking Corporation and all of our fixed income investors who participated in this inaugural transaction”.

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Patrick Tuttle (Executive Director) added:

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“We are delighted with the successful execution of this inaugural deal, not only in terms of its relative pricing as a first-time issuer, but with the calibre of professional fixed income investors who have participated in the book build.  This represents a strong vote of confidence in Azora’s credit and loan servicing capabilities, and augurs well for the planned future expansion of our issuance program”.

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For additional information, please contact:

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Tim Odillo Maher
Executive Director
+61 2 8985 5090
tmaher@azora.com.au