Oportun Financial Corporation announced on June 5, 2025, the completion of a $439 million asset-backed securitization. This transaction involved the issuance of two-year revolving fixed-rate notes secured by a pool of unsecured and secured installment loans.
A significant milestone was achieved with Fitch assigning a AAA rating to the Class A notes, marking Oportun's first AAA rating. The weighted average yield on this bond issuance was 5.67%, which is 128 basis points lower than its prior ABS transaction in January.
Interim Chief Financial Officer Paul Appleton stated that this transaction reflects growing recognition of the strength and resilience of Oportun's business. The lower funding costs, driven by robust investor demand, create greater efficiency and value for the company and its members.
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