Oportun closes $425M ABS securitization, 7x oversubscribed, yield down 127 bps

Oportun Financial Corp

Issued $425.1M asset-backed notes secured by personal installment loans, five fixed-rate tranches.
Weighted average yield 6.95% and coupon 6.15%; Class A rated AA- by KBRA.
Deal over seven times oversubscribed; yield 127 bps lower than Aug 2024 ABS.
Since June 2023, Oportun has raised ~$2.8B via securitizations, whole loan sales, and warehouses.
Deutsche Bank (structuring), Goldman Sachs, and Jefferies acted as co-leads.

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