Zip Co (ASX:ZIP) said its Zip US unit priced a two-year, $300 million securitization transaction with a weighted average margin of 143 basis points over the two-year US Treasury rate, according to a Tuesday filing with the Australian bourse.
The facility is expected to close and settle on or around Sept. 1, and marks the first asset-backed security issuance for Zip US, per the filing.
The company's shares were down nearly 1% in recent Tuesday trade.
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