MoneyMe has finalised documentation to considerably restructure its major warehouse funding facility (MME Horizon 2020 Belief) and has accomplished a faucet situation on its company bond.
The upsize and restructuring of MoneyMe’s HW20 Main Financial institution warehouse funding facility will increase funding to help the accelerating buyer originations progress, each from the elevated facility dimension in addition to the power to fund a broader vary of property, specifically Autopay receivables.
MoneyMe has additionally efficiently closed a $7m faucet of its company bond on the identical phrases as disclosed to the market in April 2021. The word issuance displays sturdy investor sentiment and demand, offering the Group additional capital to help progress in Autopay and its different merchandise.
Clayton Howes, MoneyMe’s Managing Director and CEO mentioned, “These funding modifications give MoneyMe better energy to develop the enterprise on the tempo we’ve seen the final six months. The flexibility to now fund Autopay receivables with our Main Financial institution warehouse facility means we are able to proceed to take advantage of the distinctive traction we have now seen up to now with this new innovation, giving us extra alternative to service extra dealerships and brokers signing up to make use of Autopay.
“We’re delighted to have been capable of entice two of Australia’s main securitisation mezzanine buyers into the Horizon 2020 warehouse, which we consider is a superb vote of confidence in our enterprise and specifically our credit score processes. We might additionally prefer to acknowledge the help we have now acquired from the AOFM during the last eight months.”