Credabl completed its inaugural capital markets term transaction for $250m on Thursday, 16 November 2023.
This inaugural asset-backed securities (ABS) securitisation transaction (Credabl ABS 2023-1) is backed by a portfolio of practice premise (commercial real estate), equipment, goodwill, fixture and fittings and motor vehicles loans to Australian medical, dental, veterinary and healthcare professionals.
This move is key for the future growth of the Credabl business, forming part of Credabl’s funding strategy and creating additional wholesale funding capacity to support continued business growth. The transaction was rated by Moody’s and reflects the performance strength of the underlying portfolio.
Credabl ABS 2023-1 transaction structure:
Commenting on the transaction, Dennis Koh, Credabl’s Treasurer, said:
“This transaction represents a major milestone for Credabl, laying the foundation and pathway for Credabl to further diversify its funding sources, attract new investors and diversify its investor base to fund future loan portfolio growth. This move enables us to better support our clients and we’re very pleased with this step on our journey.”
