auxmoney successfully issues 5th social ABS bond
auxmoney, a leading digital-lending platform for consumer credit in Europe, has successfully placed its 5th asset-backed security transaction in the capital markets, known as “Fortuna Consumer Loan ABS 2024-2”.
- auxmoney has achieved another unprecedented milestone by placing its fifth ABS transaction
- For the first time, auxmoney has been able to issue two deals in one year for a total amount of EUR 1bn
- Despite record supply with four other consumer loans deals in the market, auxmoney achieved strong investor reception with some tranches several times oversubscribed
Düsseldorf/Dublin, September 23th 2024
auxmoney, a leading digital-lending platform for consumer credit in Europe, has successfully placed its 5th asset-backed security transaction in the capital markets, known as “Fortuna Consumer Loan ABS 2024-2”.
Dr. Daniel Drummer, CFO at auxmoney, states:
“We are proud to have closed this landmark EUR 500mn transaction, showcasing strong investor confidence despite one of the busiest ABS markets in recent years. With over EUR 2 billion placed publicly since our capital markets debut in 2021, we continue to lead the way among consumer fintech companies in Europe.”
With its fifth social bond, backed by a Second party Opinion from Fitch, auxmoney continues to promote social and financial inclusion. Through a strongly differentiated risk assessment, auxmoney improves access to affordable credit while reducing the risk and cost of lending. Customers benefit from better rates and transparency.
Boudewijn Dierick, Managing Director at auxmoney Investments, highlights:
“As a well-known repeat issuer, auxmoney is an excellent platform to attract leading investors. We’re thrilled to have placed a second deal only six months after our previous one, including placing the unrated junior tranche for the first time.”
The AAA-rated class A bonds issued follow the standards defined in the International Capital Market Association’s (ICMA) Social Bond Principles (SBP). Fitch has issued a Second Party Opinion (SPO) on the social bond framework of auxmoney confirming the eligibility of the collateral as security for 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 the Luxembourg Stock Exchange. The Fortuna transactions have received several awards for excellence and outstanding achievements in European Structured Finance.
About auxmoney
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. Customers benefit from better rates and transparency. Many institutional investors like family offices, banks, insurance companies and pension funds are taking advantage of the predictable returns achievable on the auxmoney marketplace. auxmoney is on the forefront of promoting and improving financial inclusion.
