Oportun Completes $223 Million Asset Backed Securitization
Oportun (Nasdaq: OPRT), a mission-driven fintech, has successfully completed a $223.25 million asset-backed securitization. The offering included four classes of fixed rate notes secured by a pool of unsecured and secured installment loans. KBRA rated the notes AA-, A-, BBB-, and BB- for Class A, B, C, and D respectively. The weighted average coupon on the transaction was 8.07%, with individual class coupons ranging from 5.83% to 10.47%.
Jefferies acted as the sole structuring agent and bookrunner, while Deutsche Bank Securities, J.P. Morgan Securities, Goldman Sachs, and Morgan Stanley served as co-managers. This securitization brings Oportun's total raised funds to over $1.8 billion in diversified financings since June of the previous year, demonstrating strong investor confidence in the company's consumer loans and business model.
Oportun (Nasdaq: OPRT), una fintech orientata alla missione, ha completato con successo una securitizzazione di asset backed da 223,25 milioni di dollari. L'offerta comprendeva quattro classi di note a tasso fisso garantite da un pool di prestiti rateali non garantiti e garantiti. KBRA ha valutato le note AA-, A-, BBB- e BB- per le Classi A, B, C e D rispettivamente. Il coupon medio ponderato dell'operazione era 8,07%, con coupon per classi individuali che variano dal 5,83% al 10,47%.
Jefferies ha agito come unico agente di strutturazione e bookrunner, mentre Deutsche Bank Securities, J.P. Morgan Securities, Goldman Sachs e Morgan Stanley hanno servito come co-manager. Questa securitizzazione porta il totale dei fondi raccolti da Oportun a oltre 1,8 miliardi di dollari in finanziamenti diversificati da giugno dell'anno scorso, dimostrando una forte fiducia degli investitori nei prestiti al consumo e nel modello di business dell'azienda.
Oportun (Nasdaq: OPRT), una fintech con misión, ha completado con éxito una securitización respaldada por activos de 223,25 millones de dólares. La oferta incluyó cuatro clases de notas a tasa fija aseguradas por un grupo de préstamos a plazos no garantizados y garantizados. KBRA calificó las notas como AA-, A-, BBB- y BB- para las Clases A, B, C y D respectivamente. El cupón promedio ponderado de la transacción fue de 8,07%, con cupones de clase individual que varían del 5,83% al 10,47%.
Jefferies actuó como único agente de estructuración y bookrunner, mientras que Deutsche Bank Securities, J.P. Morgan Securities, Goldman Sachs y Morgan Stanley sirvieron como co-gestores. Esta securitización lleva el total de fondos recaudados por Oportun a más de 1,8 mil millones de dólares en financiamientos diversificados desde junio del año pasado, demostrando una gran confianza de los inversores en los préstamos al consumidor y el modelo de negocio de la empresa.
Oportun (Nasdaq: OPRT)는 미션 중심의 핀테크로, 2억 2,325만 달러 규모의 자산 담보 증권화를 성공적으로 완료했습니다. 이 제안은 unsecured 및 secured 할부 대출 풀로 담보된 4개 클래스의 고정 금리 채권을 포함했습니다. KBRA는 A, B, C, D 클래스에 대해 AA-, A-, BBB- 및 BB-로 채권을 평가했습니다. 이번 거래의 가중 평균 쿠폰은 8.07%였으며, 개별 클래스의 쿠폰은 5.83%에서 10.47%까지 다양합니다.
제퍼리즈는 유일한 구조화 대행자이자 북러너로 활동했으며, 도이치 뱅크 증권, J.P. 모건 증권, 골드만 삭스, 모건 스탠리가 공동 관리자 역할을 했습니다. 이번 증권화로 인해 Oportun의 총 모금액은 18억 달러 이상의 다각화된 자금으로 증가해, 소비자 대출 및 비즈니스 모델에 대한 투자자들의 강한 신뢰를 보여줍니다.
Oportun (Nasdaq: OPRT), une fintech orientée mission, a réussi à réaliser une sécu d' actifs de 223,25 millions de dollars. L'offre comprenait quatre classes de billets à taux fixe garantis par un pool de prêts à tempérament non garantis et garantis. KBRA a noté les billets AA-, A-, BBB- et BB- pour les classes A, B, C et D respectivement. Le coupon moyen pondéré de la transaction était de 8,07%, avec des coupons de classe individuelle allant de 5,83% à 10,47%.
Jefferies a agi en tant qu'agent de structuration unique et bookrunner, tandis que Deutsche Bank Securities, J.P. Morgan Securities, Goldman Sachs et Morgan Stanley ont servi de co-managers. Cette titrisation porte le total des fonds levés par Oportun à plus de 1,8 milliard de dollars en financements diversifiés depuis juin de l'année dernière, démontrant une forte confiance des investisseurs dans les prêts à la consommation et le modèle économique de l'entreprise.
Oportun (Nasdaq: OPRT), ein missionorientiertes Fintech, hat erfolgreich eine Besicherung von Vermögenswerten in Höhe von 223,25 Millionen Dollar abgeschlossen. Das Angebot umfasste vier Klassen von festverzinslichen Anleihen, die durch einen Pool von ungesicherten und gesicherten Ratenkrediten abgesichert sind. KBRA bewertete die Anleihen mit AA-, A-, BBB- und BB- für die Klassen A, B, C und D respektive. Der gewichtete durchschnittliche Coupon der Transaktion betrug 8,07%, wobei die einzelnen Klassen-Coupons von 5,83% bis 10,47% reichten.
Jefferies fungierte als alleiniger Strukturierungsagent und Buchführer, während Deutsche Bank Securities, J.P. Morgan Securities, Goldman Sachs und Morgan Stanley als Co-Manager fungierten. Diese Verbriefung erhöht das Gesamtvolumen der von Oportun gesammelten Mittel auf über 1,8 Milliarden Dollar in diversifizierten Finanzierungen seit Juni des letzten Jahres, was das starke Vertrauen der Investoren in die Verbraucherkredite und das Geschäftsmodell des Unternehmens demonstriert.
- Successful completion of a $223.25 million asset-backed securitization
- Strong investor demand and favorable pricing reflecting confidence in Oportun's credit quality
- Over $1.8 billion raised in diversified financings since June of the previous year
- KBRA assigned investment-grade ratings to three out of four note classes
- None.
Insights
Oportun's successful $223.25 million asset-backed securitization demonstrates strong investor confidence in the company's loan portfolio and business model. The weighted average coupon of 8.07% is competitive in the current market environment, indicating favorable pricing for Oportun. The AA- rating for Class A notes from KBRA suggests a high level of creditworthiness, which could potentially lower borrowing costs for the company.
Notably, Oportun has raised over
The successful completion of this securitization amid challenging market conditions signals positive sentiment towards Oportun's credit quality and risk management. The involvement of major financial institutions like Jefferies, Deutsche Bank, J.P. Morgan, Goldman Sachs and Morgan Stanley as structuring agents and co-managers adds credibility to the offering.
The diverse financing sources, including whole loan sales, securitizations and warehouse agreements, indicate a robust funding strategy. This diversification can help Oportun mitigate risks associated with reliance on a single funding source. However, it's important to analyze how these various funding mechanisms impact the company's overall cost of capital and its ability to maintain competitive loan pricing in the consumer finance market.
SAN CARLOS, Calif., Aug. 29, 2024 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-driven fintech, today announced the issuance of
The offering included four classes of fixed rate notes: Class A, Class B, Class C, and Class D. KBRA rated all classes of notes, assigning ratings of AA-, A-, BBB-, and BB-, respectively. Jefferies served as the sole structuring agent and sole bookrunner while Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Goldman Sachs & Co. LLC, and Morgan Stanley & Co. LLC served as co-managers.
The weighted average coupon on the transaction was
“The significant demand for and pricing of this securitization once again reflects investor confidence in the credit quality of Oportun’s consumer loans and our business model,” said Jonathan Coblentz, Chief Financial Officer at Oportun. “Since June of last year and inclusive of this transaction, Oportun has raised over
For more information visit oportun.com. The notes were offered pursuant to Rule 144A under the Securities Act of 1933, as amended.
This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.
About Oportun
Oportun (Nasdaq: OPRT) is a mission-driven fintech 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
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