MONEYME's major auto loan transaction

MONEYME (ASX:MME), a digital lender, has successfully executed its first asset-backed securities deal in the auto loan sector. The transaction, named MME Autopay ABS 2024-1 Trust, is valued at $517.5 million, marking the company's largest securitisation deal to date. Settlement is set for 24 October 2024.

MONEYME's strategic growth through securitisation

MONEYME has completed its largest term securitisation deal, amounting to $517.5 million, through the MME Autopay ABS 2024-1 Trust. This transaction is pivotal for the company, enhancing pricing advantages and freeing up capital for expanding their Autopay loan book. The strong demand for the notes, with participation from both existing and new investors, underscores the company's growing access to debt capital markets. MONEYME aims to leverage this success to continue offering fast, flexible, and competitively priced financial products, targeting 'Generation Now'—ambitious Australians. As a Certified B Corporation, the company is committed to sustainability and aligning with high standards of the B Corp movement. This milestone reflects MONEYME's strategic ambitions in the financial services sector, emphasizing smart technology to enhance customer experiences.

Executive insights on the securitisation deal

This securitisation deal is significant for MONEYME as it enhances pricing advantages and frees up capital to expand their Autopay loan book. The transaction reflects MONEYME's growing access to debt capital markets and the company's maturing relationships with domestic and offshore investors.