Octane Completes $400 Million Asset-Backed Securitization, Upsize from Initial $300 Million Target Issuance
NEW YORK, June 1, 2023 /PRNewswire/ -- Octane® (Octane Lending, Inc.®), the fintech revolutionizing the buying experience for major recreational purchases, announced that it has closed a $400 million securitization ("OCTL 2023-2") collateralized by its fixed-rate installment powersports loans issued through its in-house lender, Roadrunner Financial®, Inc.
- Due to significant investor demand, Octane was able to secure an upsize of $400 million for the transaction from an initial target issuance of $300 million.
- The company continued to diversify its investor base by attracting several new investors through this issuance, while also maintaining the support of existing institutional investors.
- ATLAS SP Partners acted as lead manager and structuring agent, with J.P. Morgan and Truist Securities serving as joint bookrunners.
- This is not an offer, solicitation of an offer, recommendation or advice to buy or sell any security, financial product or instrument.