Oportun Financial Corp (OPRT): debt financing — Oportun closes $300M asset-backed securitization with weighted average yield of 10.935%

Oportun Financial Corp

Issued $300M in fixed-rate asset-backed notes across four classes (A, B, C, D) rated AA (low) to BB by DBRS.
Notes priced with weighted average yield of 10.935% and weighted average interest rate of 9.505%.
Securitization secured by a pool of unsecured and secured personal installment loans.
Jefferies led as book-runner; J.P. Morgan and Goldman Sachs served as joint book-runners.
This marks Oportun’s fifth major financing in 2022; CFO cites strong capital markets access.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Oportun Financial Corp incurred senior notes of $300 million with Wilmington Trust, National Association at weighted average interest rate of 9.505% per annum maturing two years.

Instrument: senior notes
Principal: $300 million
Counterparty: Wilmington Trust, National Association
Rate: weighted average interest rate of 9.505% per annum
Maturity: two years
Event: incurrence

Exact text from the filing

The Notes were issued pursuant to the Indenture dated as of November 3, 2022 (the “2022-3 Indenture”) entered into between the Issuer and Wilmington Trust, National Association, as indenture trustee, as securities intermediary and as depositary bank.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Oportun Financial Corp entered into 2022-3 Indenture with Wilmington Trust, National Association valued at $300 million (effective 2022-11-03).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: $300 million
Effective: 2022-11-03

Exact text from the filing

The Notes were issued pursuant to the Indenture dated as of November 3, 2022 (the “2022-3 Indenture”) entered into between the Issuer and Wilmington Trust, National Association

View on SEC.gov

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Oportun Financial Corp filing history →

Source: SEC EDGAR

accession 0001538716-22-000210

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