WZR +7.41%: Good news out today for the Neo-Lender with their first Asset Backed Securities transaction. We spoke about this in the podcast earlier in the week (click here) and today they delivered on a new avenue of funding, which is cheaper, speaks to the quality of their book and provides more diversification in their funding mix. The $225m transaction was oversubscribed, had a AAA rating from Moody’s and was paying a weighed average margin of 1.5% over the 1 month bank bill swap rate. This is a turning point for the company.
MM is long and bullish Wisr (WZR)
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