Oportun Announces $306 Million Committed Warehouse Facility Extension
Oportun (Nasdaq: OPRT), a mission-driven financial services company, has announced the closing of an amendment and extension to its long-term warehouse facility. The facility features include:
- A total commitment of $306 million
- Goldman Sachs as senior lender and Jefferies as mezzanine lender, both existing, longstanding lenders to Oportun
- A new two-year revolving period
- Collateralization by Oportun's unsecured and secured personal loan originations
Jonathan Coblentz, CFO of Oportun, stated that this extension expands on the company's longstanding lending relationships and will help drive responsible growth in the years ahead. Oportun maintains diverse capital sources, including committed warehouse facilities, asset-backed securitizations, corporate-level debt financing, and whole loan sales.
Oportun (Nasdaq: OPRT), un'azienda di servizi finanziari guidata da una missione, ha annunciato la chiusura di un'emendamento e di un'estensione del suo impianto di magazzinaggio a lungo termine. Le caratteristiche dell'impianto includono:
- Un impegno totale di 306 milioni di dollari
- Goldman Sachs come prestatore senior e Jefferies come prestatore mezzanino, entrambi già prestatori di lunga data per Oportun
- Un nuovo periodo di rotazione di due anni
- Cauzione da parte delle originazioni di prestiti personali non garantiti e garantiti di Oportun
Jonathan Coblentz, CFO di Oportun, ha dichiarato che questa estensione amplia le relazioni di prestito consolidate dell'azienda e contribuirà a promuovere una crescita responsabile negli anni a venire. Oportun mantiene fonti di capitale diversificate, comprese strutture di magazzinaggio impegnate, cartolarizzazioni supportate da attivi, finanziamenti a livello aziendale e vendite di prestiti interi.
Oportun (Nasdaq: OPRT), una empresa de servicios financieros orientada a una misión, ha anunciado el cierre de una enmienda y extensión a su instalación de almacenamiento a largo plazo. Las características de la instalación incluyen:
- Un compromiso total de 306 millones de dólares
- Goldman Sachs como prestamista senior y Jefferies como prestamista mezzanine, ambos prestamistas existentes y de larga data de Oportun
- Un nuevo período de renovación de dos años
- Colateralización por los orígenes de préstamos personales no garantizados y garantizados de Oportun
Jonathan Coblentz, CFO de Oportun, afirmó que esta extensión amplía las relaciones crediticias de larga data de la empresa y ayudará a impulsar un crecimiento responsable en los próximos años. Oportun mantiene diversas fuentes de capital, incluidas instalaciones de almacenamiento comprometidas, titulizaciones respaldadas por activos, financiamiento de deuda a nivel corporativo y ventas de préstamos completos.
Oportun (Nasdaq: OPRT), 임무 중심의 금융 서비스 회사가 장기 창고 시설에 대한 수정 및 연장 마감 소식을 발표했습니다. 이 시설의 특징은 다음과 같습니다:
- 총 3억 6백만 달러의 약정
- Goldman Sachs는 선순위 대출자로, Jefferies는 후순위 대출자로, 두 회사 모두 Oportun의 기존 오랜 대출자입니다.
- 새로운 2년 회전 기간
- Oportun의 비담보 및 담보 개인 대출 원주에 의한 담보화
Oportun의 CFO인 Jonathan Coblentz는 이 연장이 회사의 장기간 지속된 대출 관계를 확대하고 앞으로 몇 년 동안 책임 있는 성장을 촉진하는 데 도움이 될 것이라고 밝혔습니다. Oportun은 약정된 창고 시설, 자산 담보 증권화, 기업 차입금, 전체 대출 판매 등 다양한 자본 출처를 유지하고 있습니다.
Oportun (Nasdaq: OPRT), une entreprise de services financiers axée sur une mission, a annoncé la clôture d'un amendement et d'une prolongation de ses installations de stockage à long terme. Les caractéristiques de cette installation incluent :
- Un engagement total de 306 millions de dollars
- Goldman Sachs en tant que prêteur senior et Jefferies en tant que prêteur mezzanine, tous deux déjà des prêteurs existants et de longue date pour Oportun
- Une nouvelle période de renouvellement de deux ans
- Collateralisation des origines de prêts personnels non garantis et garantis d'Oportun
Jonathan Coblentz, CFO d'Oportun, a déclaré que cette extension élargit les relations de prêt de longue date de l'entreprise et contribuera à favoriser une croissance responsable dans les années à venir. Oportun maintient diverses sources de capital, y compris des installations de stockage engagées, des titrisations adossées à des actifs, des financements de dette au niveau de l'entreprise et des ventes de prêts entiers.
Oportun (Nasdaq: OPRT), ein auf Mission orientiertes Finanzdienstleistungsunternehmen, hat den Abschluss einer Änderung und Verlängerung seiner langfristigen Lagerfinanzierung bekannt gegeben. Die Merkmale der Finanzierung umfassen:
- Ein Gesamtengagement von 306 Millionen US-Dollar
- Goldman Sachs als Senior-Lender und Jefferies als Mezzanine-Lender, beide bestehende und langjährige Kreditgeber von Oportun
- Eine neue zweijährige revolving Periode
- Sicherheiten aus Oportuns unbesicherten und besicherten Privatkrediten
Jonathan Coblentz, CFO von Oportun, erklärte, dass diese Verlängerung die langjährigen Kreditbeziehungen des Unternehmens ausbaut und dazu beitragen wird, ein verantwortungsvolles Wachstum in den kommenden Jahren voranzutreiben. Oportun hat vielfältige Kapitalquellen, einschließlich zugesagter Lagerfinanzierungen, asset-backed securitizations, Unternehmensschuldenfinanzierung und Verkäufen von Gesamtdarlehen.
- Secured a $306 million committed warehouse facility extension
- Maintained longstanding relationships with Goldman Sachs and Jefferies as lenders
- New two-year revolving period for the facility
- Diverse set of capital sources maintained
- None.
Insights
This warehouse facility extension is a significant positive development for Oportun. The
- The two-year revolving period offers extended financial flexibility, important for Oportun's growth strategy.
- Retention of Goldman Sachs and Jefferies as lenders indicates strong, established relationships with top-tier financial institutions.
- The facility's collateralization by both unsecured and secured personal loans suggests diversification in Oportun's lending portfolio.
This extension strengthens Oportun's capital structure, potentially lowering borrowing costs and supporting loan origination growth. For investors, this signals improved financial stability and growth potential, which could positively impact the stock price in the near term.
Oportun's successful extension of this warehouse facility is noteworthy in the current economic climate. Consider these market implications:
- With a market cap of
$106 million , this$306 million facility is nearly3x the company's market value, indicating significant financial leverage. - The commitment from Goldman Sachs and Jefferies suggests strong institutional confidence in Oportun's business model and growth prospects.
- This facility, combined with Oportun's diverse capital sources, positions the company well against competitors in the personal loan space.
Investors should view this as a positive indicator of Oportun's ability to execute its growth strategy and maintain liquidity in a challenging market. This could lead to increased investor interest and potential stock price appreciation.
SAN CARLOS, Calif., Sept. 23, 2024 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-driven financial services company, today announced the closing of an amendment and extension to its long-term warehouse facility. Features of this facility include:
$306 million total commitment- Goldman Sachs as senior lender – and Jefferies, as mezzanine lender – both existing, longstanding lenders to Oportun
- A new two-year revolving period
- Collateralized by Oportun’s unsecured and secured personal loan originations
“This warehouse facility extension expands on Oportun’s longstanding lending relationships”, said Jonathan Coblentz, Chief Financial Officer of Oportun. “With the support of our lenders at Goldman Sachs and Jefferies, this committed financing will help drive Oportun’s responsible growth in the years ahead.”
Oportun maintains a diverse set of capital sources including committed warehouse facilities, asset-backed securitizations, corporate-level debt financing, and whole loan sales.
About Oportun
Oportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members' financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than
About Goldman Sachs
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.
About Jefferies
Jefferies (NYSE: JEF) is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research, wealth, and asset management services. With more than 40 offices around the world, we offer insights and expertise to investors, companies and governments. For more information: www.jefferies.com.
Investor Contact
Dorian Hare
(650) 590-4323
ir@oportun.com
Media Contact
Michael Azzano
Cosmo PR for Oportun
michael@cosmo-pr.com
(415) 596-1978
FAQ
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