Wisr initiates new debt program with National Australia Bank
Sydney, 28 October 2019 - Wisr Limited (ASX: WZR) (ACN 004 661 205) (“Wisr”, or the “Company”) is pleased to announce the completion of an initial $50 million debt warehouse program with the potential to increase the program size up to $200 million. Senior funding to the warehouse program is provided by National Australia Bank Limited (“NAB”) to support the scaling of Wisr’s personal loan originations.
The Company announced to the market on 31 July 2019 advanced discussions with Tier 1 funders to provide debt capital to Wisr’s fast-growing loan book to greatly improve overall margins, diversify funding and improve overall loan unit economics. The Company is delighted to confirm that documents for the warehouse program have been formally executed by all of the parties to them and the facility will become operational once completion of all conditions precedent have been satisfied, which is expected to occur on or about 15 November 2019.
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