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FLEETPARTNERS GROUP LIMITED — Capital/Financing Update 2017
Sep 24, 2017
64940_rns_2017-09-24_18e4f5ce-2db3-43a5-915a-a9b2d5f337f6.pdf
Capital/Financing Update
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Level 32, 1 O’Connell Street Sydney NSW 2000
Eclipx Group Limited | ABN: 85 131 557 901
25 September 2017
Eclipx Group enters into Strategic Partnership with Medical Indemnity Protection Society
Eclipx Group Limited (“ Eclipx ”) announced today that it has entered into a Strategic Partnership with the Medical Indemnity Protection Society (MIPS) for the provision of innovative financing solutions for its 51,000 members who include Medical Practitioners, Dental Practitioners and Nuclear Scientists.
Under this partnership Eclipx has developed a unique commercial and consumer financing program for MIPS members delivering products suitable for the various life stages of a MIPS member and their associated practices. Eclipx will also provide financial literacy and ongoing financing information to MIPS members as part of this partnership.
Doc Klotz, Eclipx Chief Executive Officer and Managing Director said; “We are very pleased with being able to partner with MIPS and create a valuable new offering for their members. This clearly demonstrates the value of Eclipx’s funding diversification in creating market leading products for MIPS members”.
This Partnership includes Eclipx arranging an AUD44.4m funding facility issued by Perpetual Trustee Company Limited in its capacity as trustee of the Eclipx-MIPS Member Finance Trust which has been rated ‘AAAsf’; Outlook Stable by Fitch. The collateral pool will consist of unsecured personal loans and secured equipment loans to medical and healthcare professional members of MIPS.
ABOUT ECLIPX
Eclipx Group Limited (ECX) is a leading provider of fleet, equipment leasing and management, vehicle rentals and on-line auction services to corporate, SME and consumers in Australia and corporate and SME customers in New Zealand.
As at 31 March 2017 Eclipx managed or financed 104,260 vehicles with A$2.1 billion in assets under Management. It operates in Australia and New Zealand under six primary brand names, "FleetPartners", "FleetPlus", "CarLoans.com.au", "FleetChoice", “AutoSelect”, “Right2Drive” and “Grays On-line”.
ENDS
Enquiries - Eclipx Group: Deputy CEO & Chief Financial Officer Garry McLennan +61 (0) 412 195 999
Media enquiries - Justin Clark, Sefiani +61 (0)429 361 117
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