- MoneyMe (MME) advises its successfully closed an $15 million offering of four-year secure notes
- The medium-term notes attracted a fixed coupon of 8.25 per cent per annum
- MME is also able to redeem the notes at any time prior to their final maturity date at a set redemption price
- The company said the notes will provide further capital to support MME’s future growth
- MoneyMe ended the March quarter with a 111 per cent increase in originations compared to the same time last year
- Company shares ended Friday trading up 1.49 per cent at $1.37 per share.
MoneyMe (MME) advises its successfully closed an $15 million offering of four-year secure notes.
The medium-term secure notes each attracted a fixed coupon rate of 8.25 per cent per annum.
MME is also able to redeem the notes at any time prior to their final maturity date at a set redemption price.
The noteholders can redeem their notes prior to the final maturity date, at a set redemption price, if there is a change of control with the issue or if MME delists.
Commenting on the bond issuance, MoneyMe CEO Clayton Howes said they came at a time of great growth within the company.
He also explained the notes will provide further capital to support MME’s future plans.
“At a time of record breaking growth for MoneyMe, the funds gives us the opportunity to further accelerate the pace and scale to meet the demand for our products,” Clayton said.
“We think investors were attracted by the early successes of MoneyMe. This bond issue follows strong results in Q3, and the launch last week of Autopay, our new car finance product that will transform vehicle financing for both dealers and car buyers,” he added.
MoneyMe ended the March quarter with a 111 per cent increase in originations compared to the same time last year, recording over $230 million in gross loan receivables as well.
Company shares have ended Friday trading up 1.49 per cent at $1.37 per share.