Australia's FlexiGroup Ltd. priced A$300 million of asset-backed securities in eight tranches.

The securities are backed by a pool of Australian unsecured, retail, "no interest ever" payment plans, originated by FlexiGroup unit Certegy Ezi-Pay Pty. Ltd. It was arranged by Commonwealth Bank of Australia and joint lead-managed by National Australia Bank and Commonwealth Bank of Australia.

The transaction includes A$100 million and A$72.5 million of notes with margins of 0.85% and 1.10%, respectively, over the 1-month Bank Bill Swap Rate. Among others, it includes A$54.9 million of notes with a margin of 1.10% over the 1-month Bank Bill Swap Rate.