OPRT - Oportun Completes $200 Million Asset Backed Securitization | Benzinga
SAN CARLOS, Calif., Feb. 13, 2024 (GLOBE NEWSWIRE) -- Oportun (NASDAQ:OPRT), a mission-driven fintech, today announced the issuance of $200 million of fixed rate asset-backed notes secured by a pool of unsecured and secured installment loans.
The offering included four classes of fixed rate notes: Class A, Class B, Class C, and Class D. KBRA rated all classes of notes, assigning ratings of AA-, A-, BBB-, and BB-, respectively. All classes of notes were placed with four institutions as the initial purchasers: Morgan Stanley, Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Jefferies. Morgan Stanley also served as the sole structuring agent and bookrunner. Goldman Sachs & Co. LLC, J.P. Morgan Securities LLC, and Jefferies served as co-managers.
The weighted average coupon on the transaction was 8.434%. The Class ...