- Following its successful debut in 2021, auxmoney has placed its second ABS transaction publicly in the capital market
- For the first time, auxmoney has issued a bond jointly with an external partner
Düsseldorf/Dublin, 31st May 2022
auxmoney, a leading digital-lending platform for consumer credit in Europe, has successfully placed its second asset-backed security transaction in the capital markets. With this transaction named “Fortuna Consumer Loan ABS 2022-1”, about 25,000 loans with a volume of EUR 225 million have been securitised.
Daniel Drummer, CFO at auxmoney, explains:
“Scalable funding has been a key success factor for auxmoney’s growth story. This capital market transaction again demonstrates the strength of the auxmoney platform. In the midst of a rather challenging market environment, we just placed this year’s largest public asset-backed transaction of any consumer Fintech company in Europe. On the back of our resilient funding platform, we can provide highly attractive terms to even more consumers, freelancers and self-employed.”
After placing Europe’s first social ABS in 2021, auxmoney now issued bonds jointly with an external partner for the first time. With Chenavari Investment Managers, auxmoney has worked with one of the leading credit-focused asset managers in Europe as a strong partner for this transaction.
Only recently, auxmoney has been awarded with the Global Capital European Securitization Award 2022 in the category “Most Innovative Securitization Deal of the Year” for its debut social issuance promoting financial inclusion. With the renowned award Global Capital recognises outstanding achievements in European Structured Finance.
Boudewijn Dierick, Managing Director at auxmoney Investments, adds:
“We are pleased that investor demand for auxmoney loans is strong throughout the cycle. We will continue to innovate on our institutional offering and further expand our investor platform.”
The AAA-rated class A bonds issued follow the standards defined in the International Capital Market Association’s (ICMA) Social Bond Principles (SBP). ISS Corporate Solutions (ICS) has issued a Second Party Opinion (SPO) confirming the eligibility of the security as social bond. The transaction is certified by SVI as a securitisation meeting the requirements for simple, transparent and standardised securitisation (STS). The securities are listed at Euronext Dublin. Citigroup has acted as sole arranger and joint lead manager with BNP Paribas while Latham & Watkins, Hogan Lovells and William Fry were involved as legal advisors.
auxmoney is a leading digital-lending platform for consumer credit in Europe. Through unique risk models and truly digital processes, auxmoney improves access to affordable credit while reducing the risk and cost of lending. auxmoney is on the forefront of promoting and improving financial inclusion.