MONEYME has announced the execution of a new $178 million MME PL 2024-1 trust term securitisation, expected to settle July 18.
The transaction marks a significant milestone for the Group and SocietyOne.
The securitisation, led by Westpac and Deutsche Bank AG, is a public capital markets transaction involving institutional investors.
“We are pleased to announce MONEYME’s $178m 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,” said Clayton Howes (pictured above), managing director and CEO of MONEYME.
The transaction was rated Aaa (SF) by Moody's, with the Class A notes competitively priced at 1.35% over the 1-month Bank Bill Swap rate.
“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,” Howes said.
The demand exceeded the offer, attracting both existing and new investors.
This securitisation is the first to combine SocietyOne and MONEYME loan assets, creating efficiencies with one funding arrangement.
“The transaction frees up capital for new loan originations, providing capacity for growth in FY25 and beyond,” Howes said.
The oversubscribed offer demonstrated strong buyer support from domestic and international institutional investors.
MONEYME’s successful ABS transaction underlines its robust funding program and engagement from debt capital markets, positioning the company for continued growth and expansion.
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