BC Investment Group – BC Invest Successfully Prices A$500 Million RMBS
(23 June 2021 – Hong Kong) BC Invest, a diversified financial services group, c.51 % owned by Far East Consortium International Limited (“FEC”; Stock Code: 35.HK), has announced the pricing of its Australian dollar-denominated Ruby Bond Trust 2021-1, a residential mortgage-backed securities (RMBS) bond.
The transaction was launched at A$500 million reflecting the strong initial investor demand across all tranches and has subsequently priced at a weighted average margin of 2.1%. The RMBS are non-recourse to FEC and BC Invest and are backed primarily by first mortgage loans to non-Australian resident borrowers secured by mortgages over Australian residential properties.
Commenting on the issuance, Mr Chris HOONG, Managing Director of FEC, said: “We are delighted with the success of BC Invest’s second RMBS offering, noting in particular the level of demand, the pricing achieved and quality of the investors that have participated. Over the last 6 months the team has added 2 new warehouse facilities to its funding capacity with a further 4 facilities set to close in the next 2 months, which will give BC Invest c.A$2.5 billion of balance sheet capacity. In addition, BC Invest has launched into the United Kingdom to further expand its mortgage offering to its Asian customers which further underpins BC Invest’s strategic and synergy value to FEC.”
Mr David Hinde, Chief Executive Officer of BC Invest, said: “Despite the challenges of the global economy, BC Invest is continuing to grow its business and investor base both in Australia and offshore. Investor interest in Australia remains robust, largely thanks to Australia’s strong economic rebound over the last few months. BC Invest has built a strong platform, well-funded, and is poised to continue to grow as the demand for its products and services remains firm.”
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About BC Investment Group
BC Investment Group (“BC Invest”) is one of the leading Asian financial services groups headquartered in Hong Kong and operating across Australia, New Zealand, Mainland China, the United Kingdom, Singapore, Vietnam and Malaysia. BC Invest offers a seamless combination of personal and financial services that seek to give clients attractive investment returns.
Its Australian lending entity - BC Securities Pty Limited - is a non-bank lender with a dedicated residential real estate finance team that specializes in mortgage lending to non-residents, expatriates, Self-Managed Super Funds and small businesses in Australia. With FEC’s support, BC Invest launched one of Australia’s first lending products for borrowers earning foreign income in 2016 and is now ranked as the top lender in Australia servicing non-resident borrowers.
About Far East Consortium International Limited
Far East Consortium International Limited has been listed on the Hong Kong Stock Exchange since 1972 (HKEx Stock code: 35.HK). The Group is mainly engaged in property development and investment, hotel development and management, car park operations and facilities management, securities and financial product investment and gaming operations. The Group adopts the diversified regional strategy and the “Asian Wallet” strategy with business covering Hong Kong, Mainland China, Australia, New Zealand, Malaysia, Singapore, the United Kingdom and other European countries.
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For further information, please contact:
Media enquiries:
Ms. Kat Chow
Contact Number: (852) 2850 0625
Email: kat.chow@fecil.com.hk
Strategic Financial Relations Limited
Ms. Mandy Go / Ms. Jenny Lam
Contact Number: (852) 2864 4812 / (852) 2864 4883
Email: mandy.go@sprg.com.hk / jennysy.lam@sprg.com.hk
