Pagaya Raises $1 Billion Across Two New Personal Loan and Auto ABS Deals, Signaling Strong Capital Markets Demand
Pagaya Technologies (NASDAQ: PGY) has successfully closed two asset-backed securitization (ABS) deals totaling $1 billion, comprising an $800 million AAA-rated personal loan and a $200 million AA-rated auto loan transaction. The deals, known as PAID 2024-10 and RPM 2024-3, attracted 28 unique investors, mostly repeat participants, and were substantially oversubscribed. This marks Pagaya's fourth AAA-rated personal loan ABS and first AA-rated auto ABS transaction. The company has raised $5.5 billion in ABS transactions year-to-date and over $25.2 billion across 62 ABS transactions since 2018, maintaining its position as the leading personal loan ABS issuer in the U.S.
Pagaya Technologies (NASDAQ: PGY) ha chiuso con successo due operazioni di cartolarizzazione supportate da attivi (ABS) per un totale di 1 miliardo di dollari, di cui un prestito personale da 800 milioni di dollari con rating AAA e una transazione di prestito auto da 200 milioni di dollari con rating AA. Le operazioni, conosciute come PAID 2024-10 e RPM 2024-3, hanno attratto 28 investitori unici, per lo più partecipanti abituali, e sono state significativamente sovrascritte. Questo segna la quarta operazione di ABS di prestiti personali con rating AAA e la prima operazione di ABS di prestiti auto con rating AA di Pagaya. Fino ad oggi, l'azienda ha raccolto 5,5 miliardi di dollari in transazioni ABS e oltre 25,2 miliardi di dollari in 62 transazioni ABS dal 2018, mantenendo la sua posizione di leader come emittente di ABS di prestiti personali negli Stati Uniti.
Pagaya Technologies (NASDAQ: PGY) ha cerrado con éxito dos operaciones de titulización respaldadas por activos (ABS) por un total de 1 mil millones de dólares, que incluyen un préstamo personal de 800 millones de dólares con calificación AAA y una transacción de préstamo de automóvil de 200 millones de dólares con calificación AA. Las operaciones, conocidas como PAID 2024-10 y RPM 2024-3, atrajeron a 28 inversores únicos, en su mayoría participantes habituales, y fueron sustancialmente sobreejercidas. Este es el cuarto ABS de préstamos personales con calificación AAA y la primera transacción de ABS de préstamos para automóviles con calificación AA de Pagaya. La empresa ha recaudado 5.5 mil millones de dólares en transacciones ABS hasta la fecha y más de 25.2 mil millones de dólares en 62 transacciones ABS desde 2018, manteniendo su posición como el principal emisor de ABS de préstamos personales en EE.UU.
Pagaya Technologies (NASDAQ: PGY)는 총 10억 달러 규모의 자산담보유동화(ABS) 두 건을 성공적으로 마감했습니다. 이 중 8억 달러 규모의 AAA 등급 개인 대출과 2억 달러 규모의 AA 등급 자동차 대출 거래로 구성됩니다. PAID 2024-10 및 RPM 2024-3으로 알려진 이 거래는 대부분의 재참여 투자자들을 포함하여 28명의 독특한 투자자를 끌어모았으며, 대폭 초과 청약되었습니다. 이는 Pagaya의 네 번째 AAA 등급 개인 대출 ABS 및 첫 번째 AA 등급 자동차 ABS 거래입니다. 회사는 현재까지 55억 달러의 ABS 거래를 성사시켰고, 2018년 이후 총 252억 달러 이상의 62건의 ABS 거래를 진행하며 미국 내 개인 대출 ABS 발행사의 선두 자리를 유지하고 있습니다.
Pagaya Technologies (NASDAQ: PGY) a réussi à finaliser deux opérations de titrisation adossées à des actifs (ABS) totalisant 1 milliard de dollars, comprenant un prêt personnel de 800 millions de dollars noté AAA et une transaction de prêt automobile de 200 millions de dollars notée AA. Les opérations, connues sous le nom de PAID 2024-10 et RPM 2024-3, ont attiré 28 investisseurs uniques, pour la plupart des participants réguliers, et ont été largement sursouscrites. Cela marque la quatrième ABS de prêt personnel notée AAA de Pagaya et la première ABS automobile notée AA. L'entreprise a levé 5,5 milliards de dollars dans des transactions ABS depuis le début de l'année et plus de 25,2 milliards de dollars dans 62 transactions ABS depuis 2018, maintenant sa position de leader en tant qu'émetteur d'ABS de prêts personnels aux États-Unis.
Pagaya Technologies (NASDAQ: PGY) hat erfolgreich zwei absicherte Verbriefungen (ABS) in Höhe von insgesamt 1 Milliarde US-Dollar abgeschlossen, bestehend aus einem persönlichen Kredit über 800 Millionen US-Dollar mit AAA-Bewertung und einer Autokredit-Transaktion von 200 Millionen US-Dollar mit AA-Bewertung. Die Deals, bekannt als PAID 2024-10 und RPM 2024-3, zogen 28 einzigartige Investoren an, überwiegend wiederkehrende Teilnehmer, und waren erheblich überzeichnet. Dies markiert Pagayas vierte ABS-Transaktion für persönliche Kredite mit AAA-Bewertung und die erste ABS-Autotransaktion mit AA-Bewertung. Das Unternehmen hat bisher 5,5 Milliarden US-Dollar in ABS-Transaktionen aufgebracht und über 25,2 Milliarden US-Dollar in 62 ABS-Transaktionen seit 2018 gesammelt und damit seine Position als führender Emittent von ABS für persönliche Kredite in den USA behauptet.
- Raised $1 billion in new ABS deals
- Strong investor demand with substantial oversubscription
- High credit ratings achieved (AAA and AA)
- 28 unique investors participated, majority being repeat investors
- Improved funding conditions with lower spreads and risk retention requirements
- Maintains #1 position in U.S. personal loan ABS issuance
- None.
Insights
This
The company's position as the leading personal loan ABS issuer in the U.S., having raised over
Pagaya's AI-powered credit assessment platform continues to prove its value proposition in the marketplace. The successful placement of both personal and auto loan securitizations validates their technology's ability to effectively evaluate credit risk across different asset classes. The expansion into AA-rated auto ABS represents strategic diversification of their product offerings.
The oversubscription of these deals, particularly in the current market environment, suggests institutional investors are increasingly comfortable with AI-driven credit underwriting. This could lead to further reduction in funding costs and improved operational leverage for Pagaya, potentially enhancing profitability metrics in upcoming quarters.
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$800 Million $200 Million $5.5 Billion -
Pagaya remains the #1 personal loan ABS issuer in the
U.S.
A total of 28 unique investors participated across these two transactions, the majority of which were repeat investors. The deal was substantially oversubscribed, reflecting continued strong investor demand for Pagaya’s robust, AI-enabled consumer credit assets.
Pagaya continues to meet the needs of prominent financial institutions and deliver efficient, fit-for-market structures across the financial ecosystem. Qualified institutional buyers purchased notes backed by personal and auto loans that will be originated by Pagaya's lending partners on Pagaya’s AI-powered network.
Pagaya has raised more than
“Our unique ability to deliver diverse, AI-driven assets at scale, coupled with a robust lending partner pipeline is more prevalent than ever,” said Ralph L. Leung, Chief Operating Officer and Chief Commercial Officer for Pagaya. "As funding markets continue to improve and our deals continue to perform, we are executing at lower spreads with lower overall risk retention requirements.”
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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