Pagaya Raises $1 Billion Across Two New Personal Loan and Auto ABS Deals, Signaling Strong Capital Markets Demand

Business Wire11-06

$800 Million AAA-Rated Personal Loan and $200 Million AA-Rated Auto Loan Asset Backed Securitizations, with $5.5 Billion raised across all ABS transactions year-to-date Pagaya remains the #1 personal ...

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Pagaya remains the #1 personal loan ABS issuer in the U.S.NEW YORK, November 06, 2024----Pagaya Technologies LTD.  , a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of PAID 2024-10 and RPM 2024-3, totaling $1 billion in size across both deals. This represents the Company’s fourth AAA-rated personal loan ABS transaction and its first AA-rated auto ABS transaction.A total of 28 unique investors participated across these two transactions, the majority of which were repeat investors. The deal was substantially oversubscribed, reflecting continued strong investor demand for Pagaya’s robust, AI-enabled consumer credit assets.Pagaya continues to meet the needs of prominent financial institutions and deliver efficient, fit-for-market structures across ","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4023":"应用软件","PGYWW":"PAGAYA TECHNOLOGIES LTD C/WTS (TO PUR COM)","PGY":"Pagaya Technologies Ltd."},"translate_title":"Pagaya通过两项新的个人贷款和汽车ABS交易筹集了10亿美元，表明资本市场需求强劲","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"PGY":0.9,"PGYWW":0.9},"content_text":"$800 Million AAA-Rated Personal Loan and $200 Million AA-Rated Auto Loan Asset Backed Securitizations, with $5.5 Billion raised across all ABS transactions year-to-date\nPagaya remains the #1 personal loan ABS issuer in the U.S.\n\nNEW YORK, November 06, 2024--(BUSINESS WIRE)--Pagaya Technologies LTD. (NASDAQ: PGY) (\"Pagaya\" or \"the Company\"), a global technology company delivering AI-driven product solutions for the financial ecosystem, today announced the closing of PAID 2024-10 and RPM 2024-3, totaling $1 billion in size across both deals. This represents the Company’s fourth AAA-rated personal loan ABS transaction and its first AA-rated auto ABS transaction.\nA total of 28 unique investors participated across these two transactions, the majority of which were repeat investors. The deal was substantially oversubscribed, reflecting continued strong investor demand for Pagaya’s robust, AI-enabled consumer credit assets.\nPagaya continues to meet the needs of prominent financial institutions and deliver efficient, fit-for-market structures across the financial ecosystem. Qualified institutional buyers purchased notes backed by personal and auto loans that will be originated by Pagaya's lending partners on Pagaya’s AI-powered network.\nPagaya has raised more than $25.2 billion over 62 ABS transactions since 2018 across multiple products. Pagaya remains the number one personal loan ABS issuer by issuance size in the U.S., solidifying its reputation as the benchmark issuer of this product.\n\"Our unique ability to deliver diverse, AI-driven assets at scale, coupled with a robust lending partner pipeline is more prevalent than ever,\" said Ralph L. Leung, Chief Operating Officer and Chief Commercial Officer for Pagaya. \"As funding markets continue to improve and our deals continue to perform, we are executing at lower spreads with lower overall risk retention requirements.\"\nAbout Pagaya Technologies\nPagaya (NASDAQ: PGY) is a global technology company making life-changing financial products and services available to more people nationwide, as it reshapes the financial services ecosystem. By using machine learning, a vast data network and an AI-driven approach, Pagaya provides comprehensive consumer credit and residential real estate products for its partners, their customers, and investors. Its proprietary API and capital solutions integrate into its network of partners to deliver seamless user experiences and greater access to the mainstream economy. Pagaya has offices in New York and Tel Aviv. For more information, visit pagaya.com.\nView source version on businesswire.com: https://www.businesswire.com/news/home/20241106737992/en/\nContacts\nInvestors & Analysts ir@pagaya.com Media & Press press@pagaya.com","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.1","shortVersion":"4.29.1","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2481433601"}