Oportun closes $538M asset-backed securitization with AAA senior notes; average yield 5.294%

Oportun Financial Corp

Issued ~$538M of two-year revolving fixed-rate notes secured by installment loans; five classes rated AAA to BB- by Fitch.
Weighted average yield 5.294% (38 bps lower than June 2025 ABS deal); weighted average coupon 5.23%.
Senior Class A notes rated AAA with 4.49% coupon; Class E notes rated BB- with 9.20% coupon.
Company proactively paid $10M toward $27.5M mandatory corporate loan payments due Jan 2026; corporate facility balance reduced to $212.5M from $235M.
Jefferies sole structuring agent; Deutsche Bank, Goldman Sachs, Natixis co-leads.

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