{"id":6469,"date":"2024-12-20T11:45:15","date_gmt":"2024-12-20T11:45:15","guid":{"rendered":"https:\/\/octane.co\/o\/?p=6469"},"modified":"2025-01-16T13:42:07","modified_gmt":"2025-01-16T13:42:07","slug":"completes-126-million-asset-backed-securitization-octl-2024-rvm1","status":"publish","type":"post","link":"https:\/\/octane.co\/o\/completes-126-million-asset-backed-securitization-octl-2024-rvm1\/","title":{"rendered":"Octane Completes $126 Million Asset-Backed Securitization"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-post\" data-elementor-id=\"6469\" class=\"elementor elementor-6469\" data-elementor-post-type=\"post\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-7579d55 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"7579d55\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-c706589\" data-id=\"c706589\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-5518d9c elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"5518d9c\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-3542a34\" data-id=\"3542a34\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-49dd763 elementor-widget elementor-widget-image\" data-id=\"49dd763\" data-element_type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-image{text-align:center}.elementor-widget-image a{display:inline-block}.elementor-widget-image a img[src$=\".svg\"]{width:48px}.elementor-widget-image img{vertical-align:middle;display:inline-block}<\/style>\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"679\" height=\"883\" src=\"https:\/\/octane.co\/o\/wp-content\/uploads\/2024\/12\/rv_info-1.png\" class=\"attachment-large size-large wp-image-6474\" alt=\"\" srcset=\"http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/12\/rv_info-1.png 679w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/12\/rv_info-1-231x300.png 231w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/12\/rv_info-1-38x50.png 38w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/12\/rv_info-1-650x845.png 650w, http:\/\/octane.co\/o\/wp-content\/uploads\/2024\/12\/rv_info-1-50x65.png 50w\" sizes=\"(max-width: 679px) 100vw, 679px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t<div class=\"elementor-column elementor-col-50 elementor-inner-column elementor-element elementor-element-013f90c\" data-id=\"013f90c\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-054b466 elementor-widget elementor-widget-text-editor\" data-id=\"054b466\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t<style>\/*! elementor - v3.23.0 - 05-08-2024 *\/\n.elementor-widget-text-editor.elementor-drop-cap-view-stacked .elementor-drop-cap{background-color:#69727d;color:#fff}.elementor-widget-text-editor.elementor-drop-cap-view-framed .elementor-drop-cap{color:#69727d;border:3px solid;background-color:transparent}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap{margin-top:8px}.elementor-widget-text-editor:not(.elementor-drop-cap-view-default) .elementor-drop-cap-letter{width:1em;height:1em}.elementor-widget-text-editor .elementor-drop-cap{float:left;text-align:center;line-height:1;font-size:50px}.elementor-widget-text-editor .elementor-drop-cap-letter{display:inline-block}<\/style>\t\t\t\t<p><i><span style=\"font-weight: 400;\">Company\u2019s First ABS Deal Wholly Backed by RV and Marine Collateral Receives AAA-rating <\/span><\/i><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-3c09a88 elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"3c09a88\" data-element_type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-7856871\" data-id=\"7856871\" data-element_type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-94a02db elementor-widget elementor-widget-text-editor\" data-id=\"94a02db\" data-element_type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t\t\t<p><span style=\"font-weight: 400;\">NEW YORK, December 20<\/span><span style=\"font-weight: 400;\">, 2024 \u2014 <\/span><a href=\"http:\/\/www.octane.co\"><span style=\"font-weight: 400;\">Octane<\/span><\/a><span style=\"font-weight: 400;\">\u00ae<\/span><span style=\"font-weight: 400;\"> (Octane Lending, Inc.<\/span><span style=\"font-weight: 400;\">\u00ae<\/span><span style=\"font-weight: 400;\">), the fintech revolutionizing the buying experience for major recreational purchases, announced that it has closed a $125.76 million securitization (\u201cOCTL 2024-RVM1\u201c). The notes will be collateralized by a pool of retail installment loans issued through Octane\u2019s in-house lender, <\/span><a href=\"https:\/\/www.roadrunnerfinancial.com\/\"><span style=\"font-weight: 400;\">Roadrunner Financial<\/span><\/a><span style=\"font-weight: 400;\">\u00ae<\/span><span style=\"font-weight: 400;\">, Inc. that are secured by new and used recreational vehicles (RVs), powerboats, and pontoon hybrids.<\/span><\/p><p><span style=\"font-weight: 400;\">This is Octane\u2019s first transaction under its new RV\/Marine shelf, denoted with the \u201cRVM\u201d ticker. Octane has completed 14 asset-backed securitizations since launching its program in December 2019, including <\/span><a href=\"https:\/\/octane.co\/o\/announcing-300-million-asset-backed-securitization\/\"><span style=\"font-weight: 400;\">OCTL 2024-1<\/span><\/a><span style=\"font-weight: 400;\">, <\/span><a href=\"https:\/\/octane.co\/o\/completes-365-million-asset-backed-securitization-2024\/\"><span style=\"font-weight: 400;\">OCTL 2024-2<\/span><\/a><span style=\"font-weight: 400;\">, and <\/span><a href=\"https:\/\/octane.co\/o\/completes-326-million-asset-backed-securitization-2024\/\"><span style=\"font-weight: 400;\">OCTL 2024-3<\/span><\/a><span style=\"font-weight: 400;\"> in 2024. In the company\u2019s last six powersports ABS transactions, RV and marine loans comprised approximately 1.35% or less of the pool.<\/span><\/p><p><span style=\"font-weight: 400;\">OCTL 2024-RVM1 consists of five classes of fixed-rate notes: Class A, Class B, Class C, Class D, and Class E, which Standard &amp; Poor\u2019s (S&amp;P)* rated as AAA, AA, A, BBB, and BB respectively, in a private offering pursuant to Rule 144A under the Securities Act of 1933, as amended. ATLAS SP Securities acted as lead manager and structuring agent, with Truist Securities serving as joint bookrunner, and J.P. Morgan Securities and Mizuho serving as co-managers.\u00a0<\/span><\/p><p><span style=\"font-weight: 400;\">\u201cWe are excited to build on our successful ABS track record by issuing our first securitization wholly backed by RV- and marine-collateral, which was extremely well received by the market,\u201d said Steven Fernald, President and Chief Financial Officer at Octane. \u201cThanks to the strong interest from a large number of new investors as well as our existing, long-term investor partners, we are well positioned to continue to meaningfully grow our business in 2025 and beyond.\u201d<\/span><\/p><p><span style=\"font-weight: 400;\">Octane <\/span><a href=\"https:\/\/octane.co\/o\/entering-the-rv-market-to-streamline-and-digitize-the-buying-experience\/\"><span style=\"font-weight: 400;\">entered the RV market in 2022<\/span><\/a><span style=\"font-weight: 400;\">, doubled originations in 2023, and is on track once again to double its RV originations year-over-year in 2024. Octane first began <\/span><a href=\"https:\/\/octane.co\/o\/brp-taps-octane-to-power-instant-financing-for-2022-sea-doo-switch\/\"><span style=\"font-weight: 400;\">financing pontoons<\/span><\/a><span style=\"font-weight: 400;\"> in 2022 and entered the broader <\/span><a href=\"https:\/\/octane.co\/o\/marine-market-entrance\/\"><span style=\"font-weight: 400;\">marine market<\/span><\/a><span style=\"font-weight: 400;\"> this fall.<\/span><\/p><p><span style=\"font-weight: 400;\">Octane continues to maintain a diverse <\/span><a href=\"https:\/\/investor.octane.co\/\"><span style=\"font-weight: 400;\">capital markets strategy<\/span><\/a><span style=\"font-weight: 400;\">. In addition to completing more than $4 billion of asset-backed securitizations to date, the company <\/span><a href=\"https:\/\/www.linkedin.com\/feed\/update\/urn:li:activity:7237846595529023488\/?_gl=1*r0qr94*_ga*Nzc3MTQ2MDEyLjE3Mjc0NTg3MjY.*_ga_0FCW95Z7XK*MTczMDIzNDczNS4xOS4xLjE3MzAyMzc0NTUuNTUuMC4w\"><span style=\"font-weight: 400;\">surpassed $5B in aggregate originations<\/span><\/a><span style=\"font-weight: 400;\"> in September 2024 and has announced or completed over $1 billion of whole loan sales since December 2023, including with large asset managers, alternative asset managers, and credit unions, while maintaining approximately $1 billion in revolving debt capacity. Earlier this year, Octane <\/span><a href=\"https:\/\/octane.co\/o\/raises-50-million-in-series-e-funding-round\/\"><span style=\"font-weight: 400;\">completed its Series E funding round<\/span><\/a><span style=\"font-weight: 400;\">, bringing its total equity funding raised since inception to $242 million.<\/span><\/p><p><span style=\"font-weight: 400;\">This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.<\/span><\/p><p><span style=\"font-weight: 400;\">*The full analysis for S&amp;P\u2019s ratings, including any updates, which you should review and understand, is available on spglobal.com and can be accessed <\/span><a href=\"https:\/\/disclosure.spglobal.com\/ratings\/en\/regulatory\/article\/-\/view\/type\/HTML\/id\/3302079\"><span style=\"font-weight: 400;\">here<\/span><\/a><span style=\"font-weight: 400;\">.<\/span><\/p><p><b>###<\/b><\/p><p><em>This is not an offer, solicitation of an offer, recommendation or advice to buy or sell any security, financial product or instrument.\u00a0Our website is for informational purposes only. We do not guarantee the accuracy or completeness of information on or available through this website, and we are not responsible for inaccuracies or omissions in that information or for actions taken in reliance on that information. Please read any applicable disclosures before using or relying on information on or available through this website. Seek professional advice before investing in our securities.<\/em><\/p>\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Company\u2019s First ABS Deal Wholly Backed by RV and Marine Collateral Receives AAA-rating NEW YORK, December 20, 2024 \u2014 Octane\u00ae (Octane Lending, Inc.\u00ae), the fintech revolutionizing the buying experience for<\/p>\n<div><a href=\"https:\/\/octane.co\/o\/completes-126-million-asset-backed-securitization-octl-2024-rvm1\/\" class=\"exp-read-more exp-read-more-underlined\">Read More<\/a><\/div>\n","protected":false},"author":25,"featured_media":6475,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[34],"tags":[66,55,53,52],"class_list":["post-6469","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-press","tag-66","tag-company-growth","tag-investor-relations","tag-recent-press"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.3 (Yoast SEO v23.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Octane Completes $126 Million Asset-Backed Securitization | Octane<\/title>\n<meta name=\"description\" content=\"Octane closed its fourth securitization of the year, OCTL 2024-RVM1, its first ABS deal backed wholly by RV and Marine collateral.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link 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