Oportun closes $200M asset-backed securitization with four note classes

Oportun Financial Corp

Issued $200M in fixed-rate notes secured by installment loans; weighted avg coupon 8.434%.
Class A notes rated AA- (coupon 6.334%), Class B A- (6.546%), Class C BBB- (7.421%), Class D BB- (12.072%).
Initial purchasers: Morgan Stanley (structuring agent), Goldman Sachs, JPMorgan, Jefferies.
CFO cites investor confidence in loan credit quality; proceeds to enhance profitability.

Key facts

Extracted from this filing and checked against the source text.

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

Oportun Financial Corp entered into 2024-1 Indenture with Wilmington Trust, National Association valued at $199.5 million (effective 2024-02-13).

Action: entry
Agreement: notes offering
Counterparty: Wilmington Trust, National Association
Value: $199.5 million
Effective: 2024-02-13

Exact text from the filing

The Notes were issued pursuant to the Indenture dated as of February 13, 2024 (the “2024-1 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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Oportun Financial Corp filing history →

Source: SEC EDGAR

accession 0001538716-24-000022

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