Sixth Street Inks $4 Billion Deal for Affirm's Consumer Loans [Yahoo! Finance Canada]
Prudential Financial, Inc. (PRU)
Last prudential financial, inc. earnings: 2/4 04:18 pm
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Source: Yahoo! Finance Canada
Most Read from Bloomberg The deal will be in the form of a so-called forward-flow agreement, through which a buyer agrees to buy loans before they have been originated. With the transaction, Affirm will have access to off-balance sheet funding to support more than $20 billion in loan originations over the next three years, according to a statement seen by Bloomberg News. Nonbank lenders have bought consumer loans in droves from buy-now, pay-later lenders including Affirm in recent months, as private-credit firms pick up interest in the $5.2 trillion asset-based finance market, which includes auto loans and residential mortgages. Earlier this month, Prudential Financial Inc.'s PGIM Fixed Income bought $500 million of loans from Affirm. Fortress Investment Group and Blue Owl Capital Inc., among others, have been scooping up similar debt portfolios. The asset-based team at Sixth Street, run by partner Michael Dryden, has been active on this front, having previously agreed to buy G
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PRU
Earnings
- 10/30/24 - Beat
PRU
Sec Filings
- 12/17/24 - Form 424B2
- 12/16/24 - Form 4
- 12/16/24 - Form 4
- PRU's page on the SEC website