NON-bank vehicle and equipment asset finance provider Metro Finance has priced its latest ABS transaction at $1.2 billion. This is its 15th term ABS deal since establishing its securitisation program in 2018 and the largest in the company’s history.

With the original transaction upsized from its initial launch volume of $750 million, the latest deal takes Metro Finance’s total lifetime issuance past the $9 billion mark, while breaking its previous issuance record of $1 billion. 

A multi-national cohort of 30 investors took part in the deal, hailing from Australia, New Zealand, the United Kingdom, Europe, the United States, Japan, and other Asian nations.

David Albest – who took up position as Metro Finance’s CEO in 2024 – says the latest deal showcases the market’s confidence in the company’s growth.

Metro Finance CEO, David Albest

“Pricing our largest ever ABS transaction, and upsizing it well beyond initial launch volume, is a clear vote of confidence from the market in Metro’s growth trajectory and the quality of our loan book,” he said. 

“This result gives us the funding capacity to support Metro’s ongoing origination growth across our commercial, consumer and novated products.

“It also strengthens our recent expansion into dealer finance, broadening our origination base and creating a more diversified business across multiple distribution channels.”

Metro Finance treasurer, George Pappas

Metro Finance treasurer George Pappas says the deal speaks to how far the company’s reputation has come. 

“Thirty investors across seven regions, and pricing inside our expectations for a AAA-rated tranche, shows just how far Metro’s reputation in capital markets has come,” he said.

“It’s a strong endorsement of the discipline, diversification and performance we’ve consistently delivered since our first term deal in 2018.”