Terms sent to potential investors told them to expect weighted average seasoning of 8.2 months, and remaining term of 83.5 months.
National Australia Bank arranged the transaction.
It comes amid a wave of similar ABS deals.
There’s been about $930 million of personal loan ABS issuance from non-bank lenders this year so far. The biggest one has been Plenti’s $280 million deal, followed by Wisr’s $250 million issue, and NOW Finance and MoneyMe’s $200 million each.
The latest one, MoneyMe, wrapped up just before the end of the 2023 financial year via Westpac as the lead manager. The deal was covered before launch, with a handful of private debt types taking up the $200 million.
More broadly in ABS deals, Pepper Money’s got the biggest deal so far this year, at about $730 million for its Sparks No 4.