Oportun Financial Corporation announced on January 16, 2025, the successful issuance of $425 million of one-year revolving fixed-rate asset-backed notes. The transaction was over seven times oversubscribed, indicating robust investor demand.
The weighted average yield on this securitization was 6.95%, which is 127 basis points lower than Oportun's prior August 2024 ABS financing. This lower cost of funding reflects improved credit performance and investor confidence in the company's loan originations.
Since June 2023, Oportun has raised approximately $2.8 billion in diversified financings, including whole loan sales, securitizations, and warehouse agreements. This latest securitization further strengthens its capital structure and supports its lending activities.
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