Latest news with #Hare
Yahoo
5 days ago
- Business
- Yahoo
Oportun Completes $439 Million Asset Backed Securitization
5.67% average yield, 128 basis points lower than the previous ABS financing in January, AAA rating on the most senior bonds – a first for the Company SAN CARLOS, Calif., June 05, 2025 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-driven financial services company, today announced the issuance of $439 million of two-year revolving fixed rate asset-backed notes secured by a pool of unsecured and secured installment loans. The offering included five classes of fixed rate notes: Class A, Class B, Class C, Class D, and Class E. Fitch rated all classes of notes, assigning ratings of AAA, AA-, A-, BBB-, and BB-, respectively. Goldman Sachs & Co. LLC served as the sole structuring agent and co-lead, and Deutsche Bank Securities Inc., Jefferies and Natixis Corporate & Investment Banking also served as co-leads. The weighted average coupon on the transaction was 5.57%, and the weighted average yield was 5.67%. The Class A notes were priced with a coupon of 4.88% per annum; the Class B notes were priced with a coupon of 5.28% per annum; the Class C notes were priced with a coupon of 5.52% per annum; the Class D notes were priced with a coupon of 6.45% per annum; and the Class E notes were priced at 98.95% with a coupon of 9.40% and a yield of 10.19% per annum. 'This transaction marks an important milestone for Oportun and reflects a growing recognition of the strength and resilience of our business. Achieving our first AAA rating demonstrates how far we've come in expanding access to affordable credit,' said Paul Appleton, Interim Chief Financial Officer at Oportun. 'The 5.67% yield on this bond issuance was 1.28% lower than our prior ABS transaction in January, reflecting robust investor demand and creating greater efficiency and value — both for Oportun and for the members we serve.' For more information visit The notes were offered pursuant to Rule 144A under the Securities Act of 1933, as amended. 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. About OportunOportun (Nasdaq: OPRT) is a mission-driven financial services company that puts its members' financial goals within reach. With intelligent borrowing, savings, and budgeting capabilities, Oportun empowers members with the confidence to build a better financial future. Since inception, Oportun has provided more than $20.3 billion in responsible and affordable credit, saved its members more than $2.4 billion in interest and fees, and helped its members set aside an average of more than $1,800 annually. For more information, visit ContactDorian Hare(650) 590-4323ir@ Media Contact Michael Azzano Cosmo PR for Oportun (415) 596-1978 michael@
Yahoo
15-05-2025
- Business
- Yahoo
Tariff 'noise' makes business customers slow to spend, says UK's Sage
LONDON (Reuters) -British software company Sage said its small business customers have cash but are reluctant to spend it because of uncertainty linked to U.S. tariffs, although it on Thursday stuck to its full-year growth forecast. The group reported a 9% rise in revenue for the six months to end-March and maintained its forecast to grow at the same rate or faster for the full year. Chief Executive Steve Hare, however, said the volatile economic environment was making the group's millions of small and medium enterprise customers cautious. "It's all about confidence," he said in an interview on Thursday. "Sometimes when you get noise, people then worry and they delay their decision-making. What we need now is people to have the confidence to spend the money they've got and invest." Shares in Sage fell 5% in early deals, wiping out the gains they had made this month. The company, which provides software for accountancy, payroll and other business functions, reported underlying operating profit of 288 million pounds ($382.4 million), up 16%, on underlying total revenue of 1.24 billion pounds for the half. Its margin increased by 140 points to 23.2%. Hare said Sage had a strong position in AI and it was continuing to invest to automate routine tasks for its customers and give them more time to focus on their businesses. Sage Copilot, its generative AI-powered assistant, was available to about 40,000 customers in Britain and was being actively used by more than a quarter of them, he said. ($1 = 0.7531 pounds) Sign in to access your portfolio
Reuters
15-05-2025
- Business
- Reuters
Tariff 'noise' makes business customers slow to spend, says UK's Sage
LONDON, May 15 (Reuters) - British software company Sage (SGE.L), opens new tab said its small business customers have cash but are reluctant to spend it because of uncertainty linked to U.S. tariffs, although it on Thursday stuck to its full-year growth forecast. The group reported a 9% rise in revenue for the six months to end-March and maintained its forecast to grow at the same rate or faster for the full year. Chief Executive Steve Hare, however, said the volatile economic environment was making the group's millions of small and medium enterprise customers cautious. "It's all about confidence," he said in an interview on Thursday. "Sometimes when you get noise, people then worry and they delay their decision-making. What we need now is people to have the confidence to spend the money they've got and invest." Shares in Sage fell 5% in early deals, wiping out the gains they had made this month. The company, which provides software for accountancy, payroll and other business functions, reported underlying operating profit of 288 million pounds ($382.4 million), up 16%, on underlying total revenue of 1.24 billion pounds for the half. Its margin increased by 140 points to 23.2%. Hare said Sage had a strong position in AI and it was continuing to invest to automate routine tasks for its customers and give them more time to focus on their businesses. Sage Copilot, its generative AI-powered assistant, was available to about 40,000 customers in Britain and was being actively used by more than a quarter of them, he said. ($1 = 0.7531 pounds)
Yahoo
15-05-2025
- Business
- Yahoo
Tariff 'noise' makes business customers slow to spend, says UK's Sage
LONDON (Reuters) -British software company Sage said its small business customers have cash but are reluctant to spend it because of uncertainty linked to U.S. tariffs, although it on Thursday stuck to its full-year growth forecast. The group reported a 9% rise in revenue for the six months to end-March and maintained its forecast to grow at the same rate or faster for the full year. Chief Executive Steve Hare, however, said the volatile economic environment was making the group's millions of small and medium enterprise customers cautious. "It's all about confidence," he said in an interview on Thursday. "Sometimes when you get noise, people then worry and they delay their decision-making. What we need now is people to have the confidence to spend the money they've got and invest." Shares in Sage fell 5% in early deals, wiping out the gains they had made this month. The company, which provides software for accountancy, payroll and other business functions, reported underlying operating profit of 288 million pounds ($382.4 million), up 16%, on underlying total revenue of 1.24 billion pounds for the half. Its margin increased by 140 points to 23.2%. Hare said Sage had a strong position in AI and it was continuing to invest to automate routine tasks for its customers and give them more time to focus on their businesses. Sage Copilot, its generative AI-powered assistant, was available to about 40,000 customers in Britain and was being actively used by more than a quarter of them, he said. ($1 = 0.7531 pounds) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Straits Times
30-04-2025
- Automotive
- Straits Times
Pip Hare joins Canada Ocean Racing's charge with new foiling weapon
-Canada Ocean Racing has signed British offshore sailing star Pip Hare for The Ocean Race Europe 2025 as the team prepares to unveil a new foiling IMOCA yacht ahead of the August competition. The seven-team race begins Aug. 10 in Kiel, Germany, with stops across Europe before finishing in Montenegro on Sept. 21, serving as a precursor to the full round-the-world race in 2027. Canadian skipper Scott Shawyer will lead the four-person crew, which regulations stipulate must include at least one female sailor and represent two nationalities. Hare, who gained prominence during the 2020-21 Vendee Globe and recently managed a dismasting in the 2024-25 edition, joins at a pivotal moment as the team acquires their new vessel. "Pip is a ruthless competitor with a huge heart," said Shawyer. "She brings a rare mix of tenacity, experience, and humanity to the team. Her ability to dig deep and lead through action will be a huge asset to us." The partnership strengthens Shawyer's campaign toward the 2028-29 Vendee Globe while offering Hare a shift from solo sailing. "Having been fully focused on solo sailing for the last four years, it's going to be a great change of pace to join a team and bring my own experience to a more powerful force," said Hare. "We're expecting diverse conditions and relentless competition across the different legs. "Scott has bought a boat with incredible pedigree, and I'm looking forward to working with the Canada Ocean Racing team to unlock its full potential on the race track." The Ocean Race Europe is a multi-stage offshore sailing competition held between European ports, designed to showcase elite ocean racing talent and promote sustainability and innovation in marine sport. It is a sister event to The Ocean Race — formerly the Volvo Ocean Race — a gruelling round-the-world team sailing challenge held every few years since 1973, widely regarded as one of the toughest tests in sport. Foiling IMOCA yachts are cutting-edge, high-performance monohull sailing boats designed for solo or crewed ocean racing. Equipped with large, curved hydrofoil arms that lift the hull partially out of the water at speed, the 60-foot vessels dramatically reduce drag and achieve faster, more efficient sailing. REUTERS Join ST's Telegram channel and get the latest breaking news delivered to you.
