Oportun Financial Corp (OPRT): debt financing — Oportun closes $187.5M personal loan warehouse facility; total capacity now $954M

Oportun Financial Corp

New warehouse facility has a two-year term, borrowing capacity of $187.5M, and advance rate of 95% (92% under certain triggers).
Borrowings accrue interest at up to Term SOFR plus weighted average spread of 3.34%.
Lenders include Natixis Corporate & Investment Banking (senior) and Neuberger Berman (mezzanine).
Facility collateralized by Oportun's unsecured and secured personal loan originations.
Increases total committed warehouse capacity from ~$766.5M to $954M.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.95

Oportun Financial Corp incurred credit facility of borrowing capacity of approximately $187.5 million with Lenders from time to time party to the Loan and Security Agreement, Wilmington Trust, National Association as collateral agent, administrative agent, paying agent, securities intermediary and depositary bank at Term SOFR plus a weighted average spread up to 3.34% maturing two-year term.

Instrument: credit facility
Principal: borrowing capacity of approximately $187.5 million
Counterparty: Lenders from time to time party to the Loan and Security Agreement, Wilmington Trust, National Association as collateral agent, administrative agent, paying agent, securities intermediary and depositary bank
Rate: Term SOFR plus a weighted average spread up to 3.34%
Maturity: two-year term
Event: incurrence

Exact text from the filing

administrative agent, paying agent, securities intermediary and depositary bank. The PLW III Warehouse Facility has a two-year term and a borrowing capacity of approximately $187.5 million. Borrowings under the Loan and Security Agreement accrue interest at an interest rate no greater than Term SOFR plus a weighted average spread up to 3.34%. The advance rate for

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Source: SEC EDGAR

accession 0001538716-25-000028

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