Affirm Halts Bond Sale Due to Market Volatility - Bloomberg

2022-07-05 10:49:32 By : Mr. Mike Lu

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Affirm, the leading U.S.-based “buy now, pay later” lender, delayed a proposed asset-backed securities sale on Friday after a good portion of it had already been sold to money managers.

A major investor in the top-rated portion of the deal, also its largest tranche at more than $400 million, was said to have backed out at the last minute due to general market volatility that may have led to wider risk premiums than the company wanted, three people with knowledge of the matter said. That AAA slice was almost entirely sold when the transaction was halted, two of the investors said.