Pagaya Closes New $500 Million Consumer Loan ABS Deal, Reflecting Continued Strong Investor Demand
Pagaya Technologies (NASDAQ: PGY) has successfully closed PAID 2024-9, a $500 million consumer loan Asset-Backed Securitization (ABS) deal. This marks the company's second AAA-rated ABS of 2024, bringing the total raised across all transactions this year to $4.4 billion. The deal attracted 21 unique investors, mostly repeat participants, and was oversubscribed, indicating strong demand for Pagaya's AI-enabled consumer credit assets.
Pagaya remains the #1 ABS issuer of personal loans in the U.S., having raised over $24 billion across 59 ABS transactions since 2018. The company's COO and CCO, Ralph L. Leung, highlighted that this deal was executed at the lowest cost of capital since 2022, with one of Pagaya's lowest risk retention levels in the past 18 months, reflecting the company's increasing scale and efficiency as an issuer.
Pagaya Technologies (NASDAQ: PGY) ha chiuso con successo PAID 2024-9, un'operazione di $500 milioni in titoli garantiti da prestiti al consumo (ABS). Questo segna il secondo ABS con rating AAA della compagnia del 2024, portando il totale raccolto in tutte le transazioni di quest'anno a $4,4 miliardi. L'operazione ha attratto 21 investitori unici, per lo più partecipanti già noti, ed è stata sovrascritta, indicando una forte domanda per gli asset di credito al consumo abilitati all'AI di Pagaya.
Pagaya rimane il #1 emittente di ABS per prestiti personali negli Stati Uniti, avendo raccolto oltre $24 miliardi in 59 transazioni di ABS dal 2018. Il COO e CCO dell'azienda, Ralph L. Leung, ha sottolineato che questa operazione è stata eseguita al costo del capitale più basso dal 2022, con uno dei livelli di retention del rischio più bassi di Pagaya negli ultimi 18 mesi, riflettendo la crescente scala ed efficienza dell'azienda come emittente.
Pagaya Technologies (NASDAQ: PGY) ha cerrado con éxito PAID 2024-9, una operación de $500 millones en titulizaciones respaldadas por préstamos al consumo (ABS). Esto marca el segundo ABS calificado como AAA de la empresa en 2024, elevando el total recaudado en todas las transacciones de este año a $4.4 mil millones. El acuerdo atrajo a 21 inversionistas únicos, en su mayoría participantes recurrentes, y se sobre suscribió, lo que indica una fuerte demanda por los activos de crédito al consumidor habilitados por AI de Pagaya.
Pagaya sigue siendo el #1 emisor de ABS de préstamos personales en EE. UU., habiendo recaudado más de $24 mil millones en 59 transacciones de ABS desde 2018. El COO y CCO de la compañía, Ralph L. Leung, destacó que esta operación se realizó al costo de capital más bajo desde 2022, con uno de los niveles de retención de riesgo más bajos de Pagaya en los últimos 18 meses, lo que refleja el aumento de la escala y eficiencia de la empresa como emisor.
Pagaya Technologies (NASDAQ: PGY)가 성공적으로 PAID 2024-9를 마감했습니다. 이는 $500 백만 소비자 대출 자산담보증권(ABS) 거래입니다. 이는 2024년 회사의 두 번째 AAA 등급 ABS로, 올해 모든 거래를 통해 총 $4.4 billion이 모였다는 것을 의미합니다. 이 거래는 21명의 독특한 투자자를 끌어모았으며, 대부분은 재참여한 참여자들이었고, 있어 과잉 구독되었습니다. 이는 Pagaya의 AI 지원 소비자 신용 자산에 대한 강력한 수요를 나타냅니다.
Pagaya는 미국에서 개인 대출에 대한 #1 ABS 발행자로 남아 있으며, 2018년 이후로 $24 billion 이상을 59개의 ABS 거래를 통해 모금했습니다. 회사의 COO이자 CCO인 Ralph L. Leung은 이번 거래가 2022년 이후 가장 낮은 자본 비용으로 실행되었으며, 지난 18개월 동안 Pagaya의 최저 리스크 보유 수준 중 하나로, 발행자로서의 회사의 규모와 효율성이 계속 증가하고 있다는 걸 반영한다고 강조했습니다.
Pagaya Technologies (NASDAQ: PGY) a réussi à clore avec succès PAID 2024-9, une opération de $500 millions en titrisation de prêts à la consommation (ABS). Cela marque le deuxième ABS classé AAA de l'entreprise en 2024, portant le total collecté dans toutes les transactions de cette année à $4,4 milliards. L'opération a attiré 21 investisseurs uniques, principalement des participants récurrents, et a été sursouscrite, indiquant une forte demande pour les actifs de crédit à la consommation habilités par l'IA de Pagaya.
Pagaya reste le #1 émetteur d'ABS de prêts personnels aux États-Unis, ayant levé plus de $24 milliards au cours de 59 transactions d'ABS depuis 2018. Le COO et CCO de l'entreprise, Ralph L. Leung, a souligné que cette opération a été réalisée au coût du capital le plus bas depuis 2022, avec l'un des niveaux de rétention de risque les plus bas de Pagaya au cours des 18 derniers mois, ce qui reflète l'augmentation de la taille et de l'efficacité de l'entreprise en tant qu'émetteur.
Pagaya Technologies (NASDAQ: PGY) hat erfolgreich die PAID 2024-9 abgeschlossen, eine $500 Millionen Verbraucher-Darlehen Asset-Backed Securitization (ABS) Transaktion. Dies ist die zweite ABS-Bewertung AAA des Unternehmens in 2024 und bringt das insgesamt in allen Transaktionen in diesem Jahr gesammelte Kapital auf $4,4 Milliarden. Das Geschäft zog 21 einzigartige Investoren an, hauptsächlich wiederkehrende Teilnehmer, und war überzeichnet, was auf eine starke Nachfrage nach Pagayas KI-gestützten Verbraucher-Kredit-Assets hinweist.
Pagaya bleibt der #1 ABS-Emittent für Privatkredite in den USA und hat seit 2018 über $24 Milliarden in 59 ABS-Transaktionen gesammelt. Der COO und CCO des Unternehmens, Ralph L. Leung, hob hervor, dass dieses Geschäft zum niedrigsten Kapitalkosten seit 2022 abgewickelt wurde und eines der niedrigsten Risiko-Retention-Niveaus von Pagaya in den letzten 18 Monaten aufwies, was die wachsende Skalierung und Effizienz des Unternehmens als Emittent widerspiegelt.
- Closed $500 million consumer loan ABS deal, second AAA-rated in 2024
- Raised $4.4 billion across all transactions in 2024
- Maintained position as #1 ABS issuer of personal loans in the U.S.
- Deal was oversubscribed with 21 unique investors participating
- Executed at lowest cost of capital since 2022
- One of the lowest risk retention levels in past 18 months
- None.
Insights
Pagaya's successful closure of a
The company's position as the #1 ABS issuer of personal loans in the U.S. and its track record of raising over
Pagaya's AI-powered network is proving to be a game-changer in the financial sector. The company's ability to consistently attract investors and secure large ABS deals demonstrates the effectiveness of their AI-driven approach in credit assessment and risk management. This technology enables Pagaya to offer attractive, risk-adjusted returns to institutional investors while potentially expanding access to credit for consumers.
The platform's scalability and efficiency are key factors in Pagaya's success, allowing them to rapidly process and analyze vast amounts of data to make informed lending decisions. As AI continues to evolve, Pagaya's position at the forefront of this technology in the financial sector could lead to further innovations and market opportunities, potentially reshaping traditional lending practices and credit markets.
Pagaya's latest ABS deal reflects broader positive trends in the alternative lending market. The strong investor demand, including participation from new investors, suggests growing acceptance of AI-driven financial products among institutional buyers. This could signal a shift in the lending landscape, with technology-driven platforms gaining more traction.
The lower cost of capital and reduced risk retention levels indicate improving market conditions for fintech lenders. This could lead to more competitive offerings for consumers and potentially higher returns for investors. However, it's important to monitor how these AI-driven models perform through various economic cycles. As Pagaya continues to set benchmarks in the personal loan ABS market, it may influence industry standards and practices, potentially driving further innovation and competition in the sector.
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Second AAA-Rated Asset Backed Securitization of 2024, with
$4.4b n -
Pagaya remains the #1 ABS issuer of personal loans in the
U.S.
A total of 21 unique investors participated in this latest transaction, the majority of whom were repeat investors, along with several new investors who had not previously participated in the Company’s deals. The deal was well oversubscribed, reflecting continued strong investor demand for Pagaya’s robust AI-enabled consumer credit assets.
Qualified institutional buyers purchased notes backed by personal loans that will be originated by lending partners on Pagaya’s AI-powered network. Pagaya’s efficient, scalable and innovative platform continues to see robust investor demand, underscoring the Company’s ability to meet the needs of prominent financial institutions and deliver efficient, fit-for-market structures across the financial ecosystem.
Pagaya has raised over
“As a leader in the ABS market, we continue to see increased support and investment in our securitization platforms," said Ralph L. Leung, Chief Operating Officer and Chief Commercial Officer for Pagaya. "Reflecting our increasing scale and efficiency as an issuer, as well as improvement in broader funding markets, this deal was executed at the lowest cost of capital since 2022, also resulting in one of Pagaya's lowest risk retention levels in the past 18 months.”
About Pagaya Technologies
Pagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and an AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate products for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in
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Source: Pagaya Technologies LTD.
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