- MONEYME (MME) increases funding facilities to $1.65 billion, with an undrawn capacity of $388 million
- The company executes its first term securitisation for $200 million, with a triple-A rating
- This involves a private placement with three major Australian investors and will free up $200 million in funding capacity across its warehouses
- In addition, it lifted the capacity of its Autopay warehouse from $300 million to $450 million
- Shares are trading 20.2 per cent higher today at 68.5 cents each at 12:57 pm AEST
MONEYME (MME) has increased funding facilities to $1.65 billion, with an undrawn capacity of $388 million.
The company executed its first term securitisation for $200 million, with a triple-A rating.
This involved a private placement with three major Australian investors and will free up $200 million in funding capacity across its warehouses.
In addition, it lifted the capacity of its Autopay warehouse from $300 million to $450 million.
Its five warehouse facilities now include funding from two Australian banks and two international banks.
Managing Director and CEO Clayton Howes said these activities will allow the company to achieve further growth.
“Our undrawn securitisation funding capacity of $388m, supported by the reduction in the cost of funds margin, further positions us well in a rising interest rate and increasingly competitive funding environment,” he said.
“We remain focussed on executing our strategy: profitable growth, innovation, maintaining the quality of our loan book, and efficiency and accuracy in credit decisioning thanks to our proprietary lending technology platform.”
Shares were trading 20.2 per cent higher today at 68.5 cents each at 12:57 pm AEST.