Prospa's third public ABS issuance

Prospa Group Limited (ASX: $PGL) has announced the pricing of its third public asset-backed securities (ABS) offering of AUD $200 million, supported by a pool of Australian small business loans and line of credit facilities. The PROSPArous Trust 2024-1 is the third of its kind in Australia, demonstrating Prospa's continuing role as an innovator in Australia's securitisation market. The transaction was fully subscribed for Class A-F Notes, with demand from large real money local investors.

Executive Commentary

We're happy to have priced our third ABS in four years; establishing us as a regular and reliable issuer. We are grateful for the strong engagement from investors, and this will allow us to support small business owners with working capital and investment headroom. We were extremely pleased at the strong support from new and existing investors in the transaction.

Summary

Prospa Group Limited (ASX: $PGL) has successfully priced its third public asset-backed securities (ABS) offering of AUD $200 million, demonstrating its continuing role as an innovator in Australia's securitisation market. The PROSPArous Trust 2024-1 transaction was fully subscribed for Class A-F Notes, with demand from large real money local investors. The transaction is expected to settle on 11 April 2024, subject to the satisfaction of customary conditions precedent. National Australia Bank, Societe Generale, and Westpac Banking Corporation acted as Joint Lead Managers of the transaction, with National Australia Bank also acting as Arranger of the transaction. Prospa's commitment to unleash the potential of small businesses in Australia and New Zealand is evident through its innovative approach to developing financial management products and services. The company has provided more than $4.0 billion of funding to support the growth and operations of thousands of small businesses since 2012. Prospa's impact on its people, communities, and the planet is backed by its recognition as a Great Place To Work in Australia and a WORK180 Endorsed Employer for Women.