OAFIT

A Unique Product
Providing investors access to yield within a risk mitigated strategy.

OAFIT is a private debt ABS (Asset Backed Securities) securitisation program. OAFIT has fixed income characteristics of regular distributions combined with structural subordination and credit enhancement features. We offer three tranches of Notes (A, B, C), and have a 7 year audited track record with a predominantly institutional investor base.

The underlying assets of the fund are typically short term receivables, centred largely around invoice financing, corporate lending, SME loans, and supplier finance.

The Oceana Australian Fixed Income Trust (OAFIT) is a leading fixed income product with an Australian portfolio of receivables and a global investor base.

OAFIT PORTFOLIO

ASSET CATEGORIES

Enhancement through Insurance and Structural Subordination

INVOICE FINANCING

  • Receivables related to client’s sale of goods and services on payment terms
  • Up to 90% of the invoice value
  • Fund exposure at or below insured amount
  • Short duration of 30 to 90 days
  • Highly diversified pool of obligors

SUPPLIER FINANCING

  • Program involves funding payments to trade creditors (suppliers)
  • Typical short duration of 60 to 180 days
  • Commonly applied to fund inventory or supplier offered early payment discounts
  • Many programs covered by Trade Credit Insurance

SECURED LENDING

  • Typically short term corporate funding arrangements
  • Rigorous up-front and on-going underwriting & due diligence for all exposures
  • Fixed and variable repayment profiles
  • Physical security protection arrangements as per Credit Policies

SME LOANS

  • SME loans not categorised as either invoice or supplier finance
  • Smaller average loan size of 10-50k
  • Duration up to 12 months
  • Funding against future cash flows and factoring EFTPOS receivables
  • Typically General Security Arrangement (GSA) support of our loans