Wisr prices $214M ABS deal, lifting total issuance to $1.78B
What's the deal? Australian consumer lender Wisr has priced a 304 million Australian dollar (about $214 million) asset-backed securities deal, its seventh such transaction. National Australia Bank, Barclays, and BarrenjoeyDealroom has a profile for this one. Try Dealroom → led the Momentum Trust 2026-2 offering, which carries a weighted average margin of 1.72% over the one-month BBSW benchmark rate.
The details: Moody's rated the $240 million of Class A and Class A-x notes — 78.9% of the structure — AAA. The deal frees roughly $6.5 million in cash through lower equity requirements and adds equivalent warehouse capacity to back lending.
Why now? Wisr's loan book grew 40% year on year to $1.21 billion by September 2026, alongside record quarterly originations. The lender reported its first full-year cash profit in FY26 and raised its FY27 cash-profit outlook to at least $7 million.
A step up: The transaction extends a run of accelerating deal-making. It follows May's $354 million Momentum Trust 2026-1 — upsized from $300 million — and brings Wisr's cumulative ABS issuance to $1.78 billion.
What's the endgame? The deal, structured to meet EU and UK securitisation standards, drew UK and European institutional investors. It "further diversifies our funding platform, reduces our cost of funds and creates $304 million of additional warehouse capacity to support continued loan book growth," said Florian Ruff, head of funding and treasury at Wisr, adding that it "broadened our international investor base."
The signal: This is asset-backed borrowing, not equity — its payoff depends on whether Wisr's expanding loan book keeps growing profitably while holding credit quality. For now, the steady upsizing and widening investor base point to a lender scaling its funding to match fast-rising demand.
Read more: kalkinemedia.com
