Solvar (ASX:SVR) said it executed an asset-based securitization transaction for around AU$200 million, according to a filing with the Australian bourse on Monday.
The transaction is around AU$200 million term securitization, structured as a private debt placement, with an initial around AU$140 million in external debt funding.
The transaction was funded by private credit funds managed by global alternative asset manager MA Financial Group and supported by a leading financial services group.
It transfers around AU$200 million of its Money3 business' existing assets to a new securitization trust, funded by around AU$60 million of existing funding and around AU$140 million of new funding at a lower cost.