The Series 2022-1 notes marks the second term issuance from the firm’s master trust and consisted of approximately USD 385 million in A rated bonds, USD 51 million in BBB rated bonds, and USD 14 million in BB+ rated bonds.
The transaction, rated by the Kroll Bond Rating Agency, jointly led by Credit Suisse Securities (USA) LLC and Guggenheim Securities, LLC, and co-managed by Barclays Capital and Citi Global Markets underscores the strength of Mercury Financial’s purpose-driven business model and targeting technologies focused on the 36 million consumers in the near-prime credit segment.
The transaction follows a year of growth for the company, as Mercury Financial reached more than one million accounts in 2021 and now extends more than USD 3.5 billion in credit access to the near-prime market in its pursuit for financial inclusion.
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