Hot off the press….Wisr becomes first Fintech to do a Personal...

Hot off the press….Wisr becomes first Fintech to do a Personal Loan securitisation issue. Will reduce cost of funds by c.20%.

AAA rated senior note very rare for a first time issue... Massive validation for the quality of the book and prime nature of the customers!


________________________________________
Moody's assigns provisional ratings to Wisr's inaugural unsecured personal loan ABS
2021-05-04 03:50:04.177 GMT

Moody's assigns provisional ratings to Wisr's inaugural unsecured personal
loan ABS

Wisr Freedom Trust 2021-1 -- AUD217.8 million of debt securities rated

Sydney, May 04, 2021 -- Moodyʼs Investors Service has assigned provisional
ratings to the notes to be issued by AMAL Trustees Pty Limited as trustee of
Wisr Freedom Trust 2021-1.

Issuer: Wisr Freedom Trust 2021-1

....AUD141.75 million Class A Notes, Assigned (P)Aaa (sf)

....AUD16.2 million Class B Notes, Assigned (P)Aa1 (sf)

....AUD20.7 million Class C Notes, Assigned (P)A1 (sf)

....AUD14.4 million Class D Notes, Assigned (P)Baa1 (sf)

....AUD18.9 million Class E Notes, Assigned (P)Ba2 (sf)

....AUD5.85 million Class F Notes, Assigned (P)B2 (sf)

The AUD7.2 million Class G Notes are not rated by Moodyʼs.

The transaction is a cash securitisation of a portfolio of Australian
unsecured consumer personal loans originated by Wisr Finance Pty Ltd (Wisr,
unrated). This is Wisrʼs inaugural term asset-backed securitisation
transaction.

Wisr is an Australian non-bank lender providing consumer loans, including
unsecured personal loans and secured auto loans, to prime borrowers in
Australia. As of March 2021, its loan portfolio amounted to around AUD345.6
million, consisting of over 14,000 receivables.

Wisr started out as a peer-to-peer lender in 2015 under the name of
DirectMoney. The funding model switched to wholesale in 2017, followed by
rebranding to Wisr in 2018.