$413.5m Autopay ABS executed, kicking off MONEYME’s FY27 funding program
MONEYME (ASX: MME) executed the MME Autopay ABS 2026-1 Trust, a $413.5 million term securitisation of auto loan receivables originated through its Autopay product, on 21 October 2026. Settlement is due on 28 October 2026, “subject to standard pre-settlement requirements”.
The transaction is the company’s first public capital markets transaction for FY27. According to CEO Clayton Howes, it increases the capital available to grow the Autopay portfolio.
Key facts from the announcement:
- Arranger: Deutsche Bank
- Joint Lead Managers: Deutsche Bank, SMBC and Westpac
- Class A notes: 77.8% of the pool, priced at 120bps over 1-month BBSW
- Settlement: 28 October 2026
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Top-tier ratings and competitive pricing
The Class A notes and the Commission notes carry expected ratings only, and the announcement describes the transaction as priced competitively. The ratings tie directly to the borrower segment the company targets.
Stronger credit quality across the wider book, including net credit losses falling from 3.7% to 2.6% and an average borrower credit score of 802, is consistent with the high-quality borrower focus behind the AAA ratings.
AAA ratings from Fitch and S&P
The Class A notes and the Commission notes have been assigned expected AAAsf (Fitch Australia) and AAA (sf) (S&P Global Ratings Australia) ratings.
Mr Howes said the expected AAA ratings from both agencies were “consistent with our strategy of focusing on a high credit quality borrower segment and reflective of the underlying performance of our portfolio.”
Existing trusts upgraded
In September 2026, Fitch Australia upgraded eight classes of notes and affirmed a further seven across the MME Autopay ABS 2024-1 and 2025-1 trusts. The announcement states this reflects the strong performance of the underlying loans.
For investors, third-party assessment of loan performance is a reference point when the market considers MONEYME’s later issuance.
Clayton Howes, Managing Director and CEO
“The terms achieved reflect the quality and consistency of our portfolio.”
What is an auto ABS and why it matters to MONEYME shareholders
An auto asset-backed security (ABS) is a way of funding loans. A lender bundles auto loans into a pool, and notes backed by that pool are sold to investors. The notes are repaid from the borrowers’ loan repayments.
Ratings and pricing shape what that funding costs. The margin over a benchmark such as 1-month BBSW (the Bank Bill Swap Rate, a short-term Australian interest rate benchmark) is the extra return investors require. Higher ratings and tighter margins generally lower a lender’s cost of funds, which affects how readily it can grow its loan book.
For MONEYME, the announcement points to a repeatable, term-funded program with a diverse group of investors. Mr Howes linked the Autopay portfolio’s growth to “cheaper funding costs”, though the announcement gives no figures for those costs.
Funding platform scale and Autopay growth
The announcement provides several data points on the scale of the funding platform and the Autopay book.
| Fact | Impact |
| $1.234bn issued across three transactions in the last 12 months | Demonstrates the strength of the funding platform, according to the company |
| Autopay portfolio of $1.25 billion at 30 September 2026, up 28% on the prior corresponding period | Growth the new capital is intended to support |
| Third consecutive annual auto ABS transaction | Programmatic issuer credentials |
The $1.234bn is total issuance over the last 12 months across three transactions and includes this deal. The announcement does not break down the other two transactions.
The Autopay deal follows MONEYME’s record personal loan ABS earlier in 2026, which also carried 120bps pricing on the Class A notes and pushed total FY26 issuance past $1 billion.
Mr Howes said MONEYME is “now an established programmatic issuer in both the auto and personal loan asset classes, supported by a diverse group of Australian and overseas investors.”
He described the transaction as “a great way to kick off our FY27 issuance program.”
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