Oportun Completes $ 500 Million Asset-Backed Securitization | Your money



SAN CARLOS, Calif., October 28, 2021 (GLOBE NEWSWIRE) – Oportun (Nasdaq: OPRT), an AI-driven fintech today announced the issuance of $ 500 million three-year asset-backed notes secured by a pool of its unsecured and secured personal installment loans.

The offering included four categories of fixed rate notes: Class A, Class B, Class C and Class D. DBRS, Inc. rated all categories of notes, assigning them AA (low ) (sf), A (low) (sf), BBB (low) (sf) and BB (high) (sf), respectively. Kroll Bond Rating Agency, LLC has rated Class A and Class B Notes, assigning them A (sf) and BBB (sf) ratings, respectively. The Notes were placed with a diverse pool of institutional investors in a private offering in accordance with Rule 144A of the Securities Act of 1933, as amended. The Notes have been valued at a weighted average fixed interest rate of 2.48% per annum. Goldman Sachs & Co. LLC acted as Senior Bookrunner with Jefferies LLC and JP Morgan Securities as Joint Bookrunner.

“Our securitizations continue to generate disproportionate interest and confidence among investors, as evidenced by the scale and low costs achieved by this latest transaction,” said Jonathan Coblentz, Chief Financial Officer of Oportun. “The strong execution of this deal reflects the quality and consistency of our AI-driven credit underwriting and the hardworking nature of our clients, who continue to reward our investors by demonstrating their creditworthiness on a large scale. “

Oportun issued its first securitization in June 2013.

This press release does not constitute an offer to sell or the solicitation of an offer to buy such securities, and there will be no sale of such securities in any jurisdiction in which such an offer, solicitation or sale would be illegal. prior to registration or qualification under the securities laws of that jurisdiction.

About Oportun Oportun (Nasdaq: OPRT) is a financial services company that leverages its digital platform to deliver responsible consumer credit to hardworking people. Using AI-powered models that leverage 15 years of proprietary customer information and billions of unique data points, Oportun has provided more than $ 10.5 billion in affordable credit, providing customers with alternatives to payday loans and auto titles. In recognition of its responsibly designed products that help consumers build their credit history, Oportun has been certified as a Community Development Financial Institution (CDFI) since 2009. For more information, visit oportun.com.

Investor contact Nils Erdmann 650-810-9074 [email protected]

Media Contact Usher Lieberman 650-769-9414 [email protected]

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