BC Investment Group Successfully issues A$456 Million RMBS

Aug 17

(16 August 2023 – Hong Kong) BC Investment Group (“BC Invest”), a diversified financial services group, c.53 % owned by Far East Consortium International Limited (“FEC”; Stock Code: 35.HK), has confirmed the successful issuance of its A$456 million Australian dollar-denominated Crimson 2023-1P Bond Trust, a residential mortgage-backed security (“RMBS”). The RMBS was privately placed to local Australian institutions with Westpac Banking Corporation (“Westpac”) being the sole Arranger and Manager.

The transaction, BC Invest’s eighth RMBS issuance in the last three years, settled on 16 August 2023. The RMBS is backed by first mortgage loans to Australian resident borrowers, including Self-Managed Super Funds (“SMSF”) prime borrowers, secured by mortgages over Australian residential properties. This was the second RMBS issued by BC Invest that contained purely Australian domestic and SMSF prime borrowers and further evidences BC Invest’s shift towards a largely resident borrower RMBS program mix.

Commenting on the issuance, Mr. Chris HOONG, Chairman of BC Invest and Managing Director of FEC, said, “Once again, we are delighted to see BC Invest successfully settling another significant RMBS transaction to facilitate the longer-term financing of its rapidly growing mortgage book. This marks BC Invest’s fourth RMBS issued under the Crimson shelf with total RMBS funds raised now exceeding A$3.3 billion in the last three years. The RMBS market is an integral part of our financing strategy and we are very pleased to see that institutional investors remain very supportive of the BC Invest story.”

Mr. David Hinde, Chief Executive Officer of BC Invest, said, “The successful private placement of the Crimson 2023-1P A$456m RMBS emanated from a reverse inquiry from a large Australian institution which demonstrates that BC Invest has built a solid capital markets brand and reputation in the market for regular issuance and flexibility.

We are proud of the tremendous progress we have made over the last 5 years, growing from A$200 million in loan assets to over A$5.5 billion today. We expect our loan book to exceed A$10 billion within the next 2 years."

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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, Mainland China, the United Kingdom, Singapore, Vietnam, Philippines and Malaysia. 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 one of the top lender in Australia servicing non-resident borrowers.

It’s 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 both Australian residents and non-residents, expatriates, Self-Managed Super Funds and small businesses in Australia.

In March 2023, BC Invest completed the full acquisition of Mortgageport Management Pty Ltd, an Australian specialist prime mortgage lender with A$1.6 billion of loans under management, increasing BC Invest’s loans under management to A$5.2 billion.

About Far East Consortium International Limited

Far East Consortium International Limited (“FEC”, together with its subsidiaries, the “Group”) has been listed on the Hong Kong Stock Exchange since 1972 (HKEx Stock code: 35.HK). The Group (excluding BC Invest) 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 and related 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.

FEC official website: