MONEYME executes $150m term securitisation

MONEYME have announced that it has priced a new SocietyOne PL 2023-1 Trust term securitisation on 16 May 2023, with settlement due to occur on 19 May 2023.

The $150m term securitisation of secured and unsecured personal loan assets from two SocietyOne warehouses, with National Australia Bank (NAB) acting as lead arranger and NAB and Westpac Institutional Bank acting as lead managers.

Clayton Howes (pictured), MONEYME’s Managing Director and CEO said, “We are pleased to announce MONEYME’s first securitisation deal for SocietyOne assets following our acquisition in 2022. This term transaction effectively solves for the SocietyOne Funding Trust 1 warehouse prior to its expiry.

“It’s great to see our securitisation funding platform operate and deliver a third term transaction for the Group to further facilitate profitable returns and stability in the current challenging economic environment. The successful deal demonstrates MONEYME’s capital markets capabilities and strong funding position, underscored by a Moody’s Aaa (sf) rating for the senior tranches, reflecting the high quality of the underlying assets.

“As we continue to execute our strategy, we remain focused on profitable growth, maintaining and further enhancing the quality of our loan book, and leveraging the efficiency and accuracy of our AI-driven credit decisioning.”

Disclosure: At the time of writing, Australian FinTech Pty Ltd is a shareholder of MONEYME Limited.