Pagaya’s Strong Momentum Continues with Closing of $300 Million Auto Asset-Backed Securitization
Pagaya Technologies (NASDAQ: PGY) has closed a $300 million AA-rated auto loan ABS transaction (RPM 2025-1), marking its first Auto ABS of 2025. The transaction, which was substantially oversubscribed, attracted 14 unique investors, mostly repeat participants. This follows Pagaya's successful 2024, where they raised over $6 billion across all ABS transactions.
The company has raised more than $3 billion of expected capital year-to-date, including a recent forward flow funding announcement with Blue Owl. Since 2018, Pagaya has accumulated nearly $27 billion across 66 ABS transactions to fund loan originations in multiple products, including personal and auto loans. This latest execution aligns with Pagaya's strategy to reduce net capital use and balance sheet exposure in its Auto loan program.
Pagaya Technologies (NASDAQ: PGY) ha concluso una transazione di ABS sui prestiti auto da 300 milioni di dollari con rating AA (RPM 2025-1), marcando il suo primo Auto ABS del 2025. La transazione, che è stata sostanzialmente sovrascritta, ha attratto 14 investitori unici, per lo più partecipanti abituali. Questo segue un 2024 di successo per Pagaya, dove hanno raccolto oltre 6 miliardi di dollari in tutte le transazioni ABS.
La società ha raccolto più di 3 miliardi di dollari di capitale previsto dall'inizio dell'anno, incluso un recente annuncio di finanziamento a flusso anticipato con Blue Owl. Dal 2018, Pagaya ha accumulato quasi 27 miliardi di dollari in 66 transazioni ABS per finanziare origini di prestiti in più prodotti, inclusi i prestiti personali e auto. Questa ultima esecuzione è in linea con la strategia di Pagaya per ridurre l'utilizzo di capitale netto e l'esposizione del bilancio nel suo programma di prestiti auto.
Pagaya Technologies (NASDAQ: PGY) ha cerrado una transacción de ABS de préstamos automotrices de 300 millones de dólares con calificación AA (RPM 2025-1), marcando su primer Auto ABS de 2025. La transacción, que estuvo sustancialmente sobreejecutada, atrajo a 14 inversores únicos, en su mayoría participantes recurrentes. Esto sigue al exitoso 2024 de Pagaya, donde recaudaron más de 6 mil millones de dólares en todas las transacciones de ABS.
La empresa ha recaudado más de 3 mil millones de dólares de capital esperado hasta la fecha, incluyendo un reciente anuncio de financiamiento de flujo anticipado con Blue Owl. Desde 2018, Pagaya ha acumulado casi 27 mil millones de dólares en 66 transacciones de ABS para financiar la originación de préstamos en múltiples productos, incluidos préstamos personales y de automóviles. Esta última ejecución está alineada con la estrategia de Pagaya de reducir el uso de capital neto y la exposición en su programa de préstamos automotrices.
파가야 테크놀로지스 (NASDAQ: PGY)는 3억 달러 규모의 AA 등급 자동차 대출 ABS 거래 (RPM 2025-1)를 마감하며 2025년 첫 자동차 ABS를 기록했습니다. 이 거래는 상당히 초과 청약된 것으로, 주로 재참여한 14명의 독특한 투자자를 끌어 모았습니다. 이것은 Pagaya의 성공적인 2024년에 이어지는 것으로, 그들은 모든 ABS 거래에서 60억 달러 이상을 모금했습니다.
회사는 현재까지 예상 자본 30억 달러 이상을 조달했습니다, 최근 Blue Owl과의 공모 자금 조달 발표를 포함하여. 2018년 이래로 Pagaya는 66건의 ABS 거래를 통해 거의 270억 달러를 축적했습니다하여 개인 및 자동차 대출을 포함한 다양한 제품의 대출 원칙을 자금을 지원합니다. 이번 실행은 Pagaya의 자동차 대출 프로그램에서 순 자본 사용과 대차대조표 노출을 줄이려는 전략과 일치합니다.
Pagaya Technologies (NASDAQ: PGY) a clôturé une transaction ABS de prêts automobiles de 300 millions de dollars avec une notation AA (RPM 2025-1), marquant son premier Auto ABS de 2025. La transaction, qui a été largement sursouscrite, a attiré 14 investisseurs uniques, pour la plupart des participants récurrents. Cela fait suite à la réussite de Pagaya en 2024, où ils ont levé plus de 6 milliards de dollars dans toutes les transactions ABS.
L'entreprise a levé plus de 3 milliards de dollars de capital attendu depuis le début de l'année, y compris un récent annonce de financement à flux anticipé avec Blue Owl. Depuis 2018, Pagaya a accumulé presque 27 milliards de dollars dans 66 transactions ABS pour financer l'octroi de prêts dans plusieurs produits, y compris les prêts personnels et automobiles. Cette dernière exécution est en ligne avec la stratégie de Pagaya visant à réduire l'utilisation nette de capital et l'exposition au bilan dans son programme de prêts automobiles.
Pagaya Technologies (NASDAQ: PGY) hat eine ABS-Transaktion für Autofinanzierungen in Höhe von 300 Millionen US-Dollar mit AA-Rating (RPM 2025-1) abgeschlossen, die ihr erstes Auto-ABS im Jahr 2025 markiert. Die Transaktion war erheblich überzeichnet und zog 14 einzigartige Investoren an, hauptsächlich wiederkehrende Teilnehmer. Dies folgt auf Pagayas erfolgreiches Jahr 2024, in dem sie über 6 Milliarden US-Dollar in allen ABS-Transaktionen gesammelt haben.
Das Unternehmen hat bisher mehr als 3 Milliarden US-Dollar an erwartetem Kapital gesammelt, einschließlich einer kürzlich angekündigten Vorauszahlungsfinanzierung mit Blue Owl. Seit 2018 hat Pagaya insgesamt fast 27 Milliarden US-Dollar in 66 ABS-Transaktionen gesammelt, um die Kreditvergabe in mehreren Produkten, einschließlich Privat- und Autokrediten, zu finanzieren. Diese letzte Durchführung entspricht Pagayas Strategie, den Netto-Kapitalbedarf und die Bilanzrisiken in seinem Auto-Darlehensprogramm zu reduzieren.
- Secured $300 million in AA-rated auto loan ABS transaction
- Transaction was substantially oversubscribed
- Raised over $6 billion in ABS transactions in 2024
- Secured more than $3 billion in expected capital year-to-date
- Strong investor confidence with majority being repeat investors
- None.
Insights
The successful closing of Pagaya's
The transaction's structure reveals important strategic developments:
- The reduced capital usage requirement demonstrates improved operational efficiency and potential for higher ROE
- The diverse investor base of 14 participants, predominantly repeat investors, indicates strong institutional confidence in Pagaya's asset generation model
- The deal's position as the largest Auto ABS since 2023 showcases Pagaya's growing market leadership
The broader context is equally compelling. Having raised
The reduced balance sheet exposure in their Auto loan program is particularly strategic, as it allows for more efficient capital allocation while maintaining loan origination volume. This evolution in their funding model could lead to improved profitability metrics and enhanced scalability of their platform.
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First Auto ABS of 2025 after raising more than
$6 billion - Pagaya closes largest Auto ABS deal since 2023 with substantially lower capital use
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More than
$3 billion
A total of 14 unique investors participated across the new auto transaction, the majority of which were repeat investors. Additionally, RPM 2025-1 was substantially oversubscribed, reflecting continued strong capital markets demand for Pagaya’s assets. Since 2018, Pagaya has raised nearly
“This first auto ABS of 2025 showcases the demand for our unique ability to deliver diverse, AI-driven assets,” said Sahil Chandiramani, Pagaya’s Head of Capital Markets. “As investor confidence remains high, Pagaya continues to focus on driving cost efficient investment opportunities through diversification and scale.”
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.
FAQ
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