Good evening,

Another auto loan book deal has been done. This time, vehicle and equipment financier Allied Credit Group has snapped up Macquarie’s $670 million auto dealer finance business.

The deal is expected to complete in December and Allied Credit will likely fund the transaction through a combination of new debt and equity.

Allied started out a decade ago as a financier for motorcycle purchases, but has since moved into boats, and now cars. As it has grown it’s added familiar faces to its register, including Barrenjoey’s Matthew Grounds, UBS banker turned PointsBet chairman Brett Paton and Quadrant’s Chris Hadley.

Elsewhere, Herbert Smith Freehills is tipping listed companies will keep the deals flowing; UBS has started shopping New Zealand’s Canopy Cancer Care, which could fetch $NZ1 billion; having invested in more than $700 million of green bonds since its inception, the CEFC is now buying into Artesian’s green bonds fund; and ASX-listed lithium play Lake Resources has fallen on to the radar of a Canadian export credit agency.

Happy reading,
Anthony Macdonald, Yolanda Redrup and Kanika Sood
Street Talk editors