Today's AFR Street talk column has this ... which mentions more than the MME release to the ASX.
Listed non-bank lender MoneyMe has been meeting with European and Asian debt investors to test appetite for an asset-backed security (ABS) deal, Street Talk understands. Sources said the meetings were run as a non-deal roadshow, but MoneyMe is expected to press play on an ABS issue in the coming quarter. It comes after the business is understood to have secured a top-up at its $375 million warehouse facility to originate car loans under its Autopay product. Launched in 2021 and recently expanded to caravans, Autopay offers three- to seven-year car loans at interest rates of 8.25 per cent to 19.25 per cent. Lenders have approved a doubling of the Autopay warehouse size to $750 million. It is understood MoneyMe has also negotiated cheaper cost of debt, reflecting sobering interest rate rise sentiment, and will add about $10 million of cash back into the business.
MME Price at posting:
7.5¢ Sentiment: Hold Disclosure: Held
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