Oportun Completes $425 Million Asset Backed Securitization
Summary
Deutsche Bank Securities Inc. served as the sole structuring agent and co-lead, and Goldman Sachs & Co. LLC and Jefferies also served as co-leads.The weighted average coupon on the transaction was 6.15%, and the weighted average yield was 6.95%. This securitization was more than seven times oversubscribed and priced at an average yield 127 basis points lower than our prior August 2024 ABS financing, said Jonathan Coblentz, Chief Financial Officer at Oportun. Since June of 2023 and inclusive of this transaction, Oportun has raised approximately $2.8 billion in diversified financings, including whole loan sales, securitizations and warehouse agreements from fixed income investors and banks.For more information visit oportun.com. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $19.2 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members save an average of more than $1,800 annually.