BC Investment Group – BC Invest Successfully Prices its Inaugural A$416 Million RMBS
(10 November 2020 – 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 inaugural Australian dollar-denominated Ruby Bond Trust 2020-1, a residential mortgage-backed securities (RMBS) bond.
The transaction was upsized from A$260 million to A$416 million in response to strong investor demand across all tranches. The RMBS 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 successful launch of BC Invest’s first RMBS offering against a volatile market backdrop. We are particularly pleased with the quality of the investors that have participated and the strong support and endorsement they have demonstrated to BC Invest. This inaugural issue marks a major milestone for both BC Invest and FEC. BC Invest has ambitious plans to grow internationally. Access to capital markets at attractive terms will enable BC Invest to be even more competitive going forward and stands it in great stead to embark on its next phase of development.”
Mr David Hinde, Chief Executive Officer of BC Invest, said “Despite the global challenges, the Australian property market continues to offer good investor returns. Australia’s ability to manage the pandemic, the transparent and robust regulatory framework have given confidence and a peace of mind to institutional and individual global investors.”
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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
