Income Asset Management (IAM) has successfully arranged commitments for a $130 million debt transaction across multiple tranches for MONEYME (ASX:MME), acting as the sole lead manager.
This structured debt package marks IAM’s largest unrated over-the-counter bond transaction in Australia’s asset-backed securities (ABS) sector as sole lead manager. The transaction will support the refinancing and expansion of MONEYME’s Horizon Warehouse Trust, increasing its lending capacity for personal loans and credit cards.
The transaction was cornerstoned by Revolution Asset Management, the private debt investment house run by Bob Sahota, Simon Petris and David Saija, and secured strong investor support across all tranches from credit funds, family offices, and high-net-worth investors.
IAM’s chief executive officer Jon Lechte said IAM led the transaction drawing on its structuring and distribution expertise, and highlighted the high investor demand, stating:
“The deal was oversubscribed at all tranche levels, underscoring the appeal of unique opportunities like this. It also marks a significant milestone for IAM Group, as our largest sole-led primary bond transaction, delivering above-average credit margins for investors.”
“We thoroughly enjoyed working with the MONEYME team, whose innovative approach to credit, strong execution, and commitment to responsible lending were key to this successful transaction.”
The transaction refinances an existing $85 million warehouse facility for MONEYME. Due to the company’s strong growth and positive outlook for loan expansion, the facility was increased to $130 million.
Clayton Howes, Managing Director and CEO of MONEYME said:
“MONEYME has a long-standing relationship with IAM, and we are pleased to be working with them again to refinance our Horizon Warehouse Trust. Their expertise helped secure an upsized $130 million facility on more favourable terms, expanding our lending capacity while lowering our cost of funds. The strong investor appetite and improved margins reflect confidence in the asset class, the quality of our portfolio, and our market position.”
Settlement is expected to take place on 18 March 2025.
