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. All classes of notes were placed with four institutions as the initial purchasers: Morgan Stanley,
The weighted average coupon on the transaction was 8.434%. The Class A notes were priced with a coupon of 6.334% per annum; the Class B notes were priced with a coupon of 6.546% per annum; the Class C notes were priced with a coupon of 7.421% per annum; and the Class D notes were priced with a coupon of 12.072% per annum.
“The significant demand for and pricing of this securitization reflects investor confidence in the credit quality of Oportun’s consumer loans and our business model,” said
For more information visit oportun.com.
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.
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