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Oportun Completes $175 Million Asset-backed Securitization, its 13th to Date and Fourth This Year

SAN CARLOS, CA – December 11, 2018 – Oportun, a Community Development Financial Institution providing inclusive, affordable financial services that empower customers to build a better future, today announced the issuance of $175 million of three-year asset-backed bonds secured by a pool of its installment loans. The bonds, which represent the Company’s 13th securitization, were issued in four classes with a weighted average fixed interest rate of 4.5% per annum.

The securitization’s Class A, Class B, Class C and Class D bonds received ratings of A+ (sf), BBB+ (sf), BB (sf) and B(sf), respectively, from Kroll Bond Rating Agency.  The Class A, Class B, Class C and Class D bonds were placed with a diversified mix of institutional investors in a private offering pursuant to Rule 144A under the Securities Act of 1933, as amended.  Jefferies LLC acted as lead book runner with Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC acting as joint book-runners.

“This successful financing demonstrates the confidence that institutional investors have in our business model and in our disciplined securitization program,” said Chief Financial Officer Jonathan Coblentz. “We are extremely pleased with the quality of the transaction, particularly as it further reduces our cost of funds despite a rising interest rate environment, and it marks the first time in Oportun’s 13-year history that we were able to complete four securitizations within a single year.”

According to Oportun CEO Raul Vazquez, Oportun is committed to building a sustainable business that helps people shut out of the financial mainstream. “Our goal is to help low-to-moderate income individuals who have trouble accessing affordable credit either because they lack credit history or because their credit scores do not accurately reflect their creditworthiness,” said Vazquez. “We provide the credit they need today while helping them establish the credit history they need for a better tomorrow by reporting their accounts to the credit bureaus.”

Oportun issued its first securitization in June 2013.

This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.


Oportun is a mission-driven, technology-powered provider of inclusive, affordable financial services and a certified Community Development Financial Institution. By lending money to hardworking, low-to-moderate income individuals, Oportun helps them move forward in their lives, demonstrate their creditworthiness, and establish the credit history they need to access new opportunities. Oportun operates 300+ retail locations and delivers bilingual (English/Spanish) customer service through retail locations, contact centers, and mobile to customers in twelve states: Arizona, California, Florida, Idaho, Illinois, Missouri, Nevada, New Jersey, New Mexico, Texas, Utah, and Wisconsin.

For more information on Oportun please visit

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