(11 June 2024 – 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 pricing of its A$530 million Australian dollar-denominated Ruby 2024-1 Bond Trust, a residential mortgage-backed security (“RMBS”). The RMBS was supported by a range of international and Australian institutions and credit funds with Deutsche Bank acting as Arranger. Joint Lead Manager and Bookrunners were Deutsche Bank, HSBC and Natixis.

The transaction, BC Invest’s tenth RMBS issuance since December 2020, will settle on 18 June 2024. The RMBS is backed by first mortgage loans to Australian resident and non-resident prime borrowers, secured by Australian residential properties.

Commenting on the issuance, Mr. Chris HOONG, Chairman of BC Invest, said, “Once again, we are delighted to see BC Invest successfully issuing another significant RMBS transaction to facilitate the longer-term financing of its growing mortgage book. This marks BC Invest’s fourth RMBS issued under the Ruby shelf with total RMBS funds raised now exceeding A$4.5 billion. 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, “by using pool insurance 98.9% of the Bonds issued under Ruby 2024-1 were rated investment grade. This structural feature is a first for BC Invest and has been well accepted by the range of institutions and credit funds participating. This transaction also includes assets from Crimson 2021-1P which is due to be called on 14 June, marking BC Invest’s second call option exercised”.

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About BC Investment Group

BC Investment Group (“BC Invest”) is one of the leading non-bank financial institutions in Australia with AUM of approximately A$5.5 billion. With FEC’s support, BC Invest launched one of Australia’s first lending products for borrowers earning foreign income in 2016.

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. 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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