Money3 Corporation Limited ( (AU:SVR) ) just unveiled an announcement.
Solvar Limited has executed its inaugural Asset Backed Securitisation (ABS) deal worth approximately $200 million, marking a significant milestone in its capital management strategy. This transaction, funded by MA Financial Group and a leading financial services group, improves Solvar’s funding margins by about 1% annually and adds $200 million to its existing $510 million wholesale funding capacity. The deal reflects strong confidence from funding partners in Money3’s asset quality and supports Solvar’s growth strategy by providing scalable and sustainable funding. The transaction is expected to save around $2 million in pre-tax interest costs over three years, enhancing Solvar’s position as a specialist financier in the automotive finance industry.
More about Money3 Corporation Limited
Solvar Limited is a leading consumer and commercial finance company with over 20 years of experience in Australia and New Zealand. The company specializes in used-vehicle finance and personal loans, having funded over $2 billion in these areas. Solvar leverages technology to provide a seamless loan application process, catering to customers through brokers, online platforms, or directly.
YTD Price Performance: -6.29%
Average Trading Volume: 165,129
Technical Sentiment Consensus Rating: Buy
Current Market Cap: A$271.4M
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