Pagaya Signs $720M Loan Agreement with Sound Point
Pagaya announced a new forward flow agreement with Sound Point Capital Management for the purchase of up to $720M of point-of-sale loans sourced through Pagaya's platform. This agreement marks Pagaya's first forward flow transaction for its POS program.
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Pagaya Partners with Sound Point for $720M Loan Deal
- First Forward-Flow Deal: Pagaya has entered into an agreement with Sound Point Capital to purchase up to $720 million in point-of-sale loans, marking its first forward-flow deal for POS assets and enhancing the diversity of its funding channels.
- Strong Institutional Demand: This transaction highlights the robust demand from institutional investors for Pagaya's POS assets, indicating the company's potential and market recognition in expanding consumer credit opportunities.
- Strategic Capital Connection: Pagaya President Sanjiv Das stated that this partnership connects capital with the responsible expansion of consumer credit opportunities, underscoring the strategic significance of the company in meeting market demand.
- Slight Stock Increase: Following the announcement, Pagaya's shares edged up 0.4% in midday trading, reflecting a positive market reaction to the deal and an increase in investor confidence.
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