ScotPac has completed its third asset-backed securitisation, posting a $300 million transaction.
The transaction follows ScotPac’s previous asset-backed securitisation (ABS) issuances in February 2024 and June 2025 and was structured to meet UK and European Securitisation Regulation requirements, broadening the lender’s access to international capital markets.
Citi acted as arranger on the transaction, with Citi and NAB serving as joint lead managers.
ScotPac treasurer Bridget Keating said the deal would strengthen the lender’s funding platform and capital position.
“This latest securitisation provides additional diversity and scale to our funding platform and further strengthens our capital efficiency,” Keating said.
“The transaction received strong demand from our existing investors, and we are pleased to welcome additional support from a range of new UK and European-based investors which provides further geographic diversity to our funding program.”
CEO Jon Sutton said the transaction marked another milestone in the lender’s funding strategy.
“This transaction is ScotPac’s third successful ABS issue, resulting in nearly $1billion raised over the past two and a half years,” Sutton said
“This reinforces ScotPac’s ongoing commitment and capacity to support SMEs with a range of fast and flexible funding solutions, particularly during volatile economic times.”
ScotPac has been moving to diversify and shore up its growth momentum, having secured a new warehouse facility with investment banking company UBS in March this year.
This follows the launch of the lender’s new asset-based finance solution for SMEs and mid-tier corporate businesses.
Finance barriers
ScotPac’s announcement comes amid a challenging financial context for many SMEs.
According to ScotPac’s latest SME Growth Index, released in April, 51 per cent of SMEs are not confident of achieving their near-term revenue goals.
The survey found that 40 per cent of SMEs identified access to finance as the biggest barrier to growth, while 28 per cent said cost-of-living pressures were reducing customer demand and weighing on business confidence.
A further 15 per cent reported difficulties accessing grants to support expansion, while 14 per cent cited time constraints as a factor limiting business performance.
[Related: Thinktank marks RMBS milestone with $750m issue]
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