SelectQuote subsidiary issues $100M in asset-backed notes secured by commissions

SelectQuote, Inc.

$60M Class A 7.80% notes and $40M Class B 9.65% notes issued by subsidiary SQ ABS Issuer, LLC.
Notes secured by commissions receivable at 62% advance rate; final legal maturity October 20, 2039.
Interest accrues from Oct 15, 2024, payable monthly; amortization based on loan-to-value with sweep after Sept 2028.
Indenture with UMB Bank as trustee; covenants limit asset sales, liens, and additional debt by the issuer.

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