Buy-now-pay-later business Zip Co Limited has put a $200 million securitisation deal to investors via National Australia Bank as the arranger.
The Zip Master Trust Series 2022-1 is a securitisation of BNPL line of credit receivables to consumers originated by Zip. The notes were split into eight tranches and would be due in November 2023.
Price guidance at launch on Monday afternoon was 1.95 per cent above one-month BBSW for the top-most tranche, which was rated AAA by SThe transaction was expected to price on September 27 and settlement would follow on October 4, the book message said.P’s September 19 quarterly rebalance, and has recently repaid $40 million worth of convertible notes to Susquehanna-related CVI Investments.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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