MONEYME executes $178 million ABS transaction
ASX-listed MONEYME have announced that it has executed a new MME PL 2024-1 Trust term securitisation. Subject to standard conditions being met, settlement is expected to occur today, 18 July 2024.
Clayton Howes, MONEYME‘s Managing Director and CEO said, “We are pleased to announce MONEYME’s $178 million term securitisation for personal loan assets, marking our first public securitisation deal in the new financial year and the first to include assets from both our MONEYME and SocietyOne branded loans. Moody’s Aaa (sf) rating of the Class A notes, which constitute the largest portion of the deal structure, reflects the high quality of the underlying assets that realises price advantages.
“It’s great to see our funding program deliver another successful ABS deal with strong engagement from debt capital markets. The offer was oversubscribed with strong buyer support from domestic and international institutional investors. As well as prioritising existing investors, it is also pleasing to welcome new institutional investors into our funding program.
“The transaction frees up capital for new loan originations, providing capacity for growth in FY25 and beyond.”
