BC Investment Group Successfully Prices A$507 Million RMBS
(10 December 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 settlement of its A$507 million Australian dollar-denominated Crimson 2024-1 Bond Trust on 9 December 2024, 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, Macquarie Bank, JP Morgan, National Australia Bank, Westpac Bank and Natixis.
The transaction is BC Invest’s eleventh RMBS issuance since December 2020. The RMBS is backed by first mortgage loans to Australian 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 fifth RMBS issued under the Crimson shelf with total RMBS funds raised approximately A$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, “This transaction has been set against a market backdrop of record issuance of Australian RMBS, strong local and offshore investor demand and pricing inside historical averages. These dynamics look set to continue into 2025 and we were particularly pleased with the level of new investor engagement and their significant participation”.
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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$6.2 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, property investment, hotel operations and management, car park operations and facilities management, gaming and related operations, securities and financial product investments and provision of mortgage services. 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. Toby Chan
Contact Number: (852) 2850 0635
Email: pr@fecil.com.hk
Strategic Financial Relations Limited
Ms. Mandy Go / Ms. Mel Lai
Contact Number: (852) 2864 4812 / (852) 2864 4855
Email: sprg_fareastconsortium@sprg.com.hk