NEWS
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.
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.
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