Digital lender MONEYME executes debut $517.5 million Autopay ABS deal
ASX-listed digital lender MONEYME have announced that it has executed its first asset-backed securities deal in the auto asset class with the MME Autopay ABS 2024-1 Trust. Settlement is due to occur on Thursday, 24 October 2024.
The $517.5 million term securitisation of auto loan receivables originated through MONEYME’s Autopay product, with the lead managers being Deutsche Bank AG and Westpac.
Clayton Howes, MONEYME’s Managing Director and CEO said, “We are very pleased with MONEYME’s $517.5 million debut term securitisation of auto loan assets, our second ABS transaction in FY25 and our largest term securitisation deal to date. The Aaa (sf) and AAA (sf) credit ratings for the Class A1 and Commission notes represent 72.4% of the collateralised notes, reflecting strong credit quality and performance of our Autopay loans.
“This deal delivers pricing advantages while freeing up capital for growing our Autopay loan book.
“MONEYME’s access to debt capital markets continues to mature with expanding engagement from domestic and offshore investors, creating advantages from scale and long-term relationships.”
