Oportun Adds Additional Warehouse Capacity, Reduces Warehouse Financing Costs and Pays Down Additional Higher Cost Corporate Debt

Rhea-AI Summary

Oportun (Nasdaq: OPRT) announced changes to its debt capital structure on October 14, 2025 that expand committed warehouse capacity, extend facility tenor and reduce higher-cost corporate debt.

Key actions include closing a $247 million three-year revolving warehouse with Citizens Financial Group and Community Investment Management; a 12-month extension of an existing Goldman Sachs/Jefferies warehouse; increasing committed warehouse capacity from $954 million to $1.14 billion; raising the weighted average remaining term from 17 to 25 months; and repaying $17.5 million in October for a total $50 million corporate debt paydown since October 2024, reducing that facility from $235 million to $185 million.

Positive

• Committed warehouse capacity increased from $954M to $1.14B
• Weighted average warehouse term extended from 17 to 25 months
• Closed $247M three‑year revolving warehouse facility
• Total corporate debt paydown of $50M since October 2024

Negative

• Higher‑cost corporate financing balance remains $185M

Insights

Capital Markets Analyst

New cheaper warehouse capacity and targeted corporate debt paydown improve funding flexibility and reduce financing cost pressure.

Oportun closed a $247 million three-year revolving committed warehouse with Citizens Financial Group and Community Investment Management, extended another warehouse by 12 months with Goldman Sachs and Jefferies, and increased total committed warehouse capacity from $954 million to $1.14 billion. The company reports the combined weighted average remaining term rose from 17% (months) to 25% (months) and that both newly priced facilities are cheaper than existing ones.

The company also repaid $17.5 million of higher-cost corporate debt in October, bringing total paydown to $50 million since October 2024, and reduced the initial $235 million balance on that facility to $185 million. These are discrete balance-sheet moves that lower funding cost and extend near-term liquidity without changing other warehouse structures.

Dependencies and risks include continued lender support and execution against scheduled repayments; materially different outcomes would require facts not stated here. Monitor the committed capacity of $1.14 billion, the reported weighted-average remaining term of 25%, the remaining balance on the higher-cost corporate facility at $185 million, and the three-year tenor of the new facility over the next three years.

Adds a new $247 million warehouse facility with Citizens Financial Group, Inc. and Community Investment Management

Extends the term of an existing warehouse facility with Goldman Sachs and Jefferies by 12 months

Increases weighted average remaining term of combined warehouse facilities from 17 months to 25 months

Proactively paid down $17.5 million of higher cost corporate debt in October, resulting in $50 million of total corporate debt paid down since October 2024

SAN CARLOS, Calif., Oct. 14, 2025 (GLOBE NEWSWIRE) -- Oportun (Nasdaq: OPRT), a mission-driven financial services company, today announced several enhancements to its debt capital structure:

• The closing of a new $247 million, three-year revolving term committed warehouse facility with Citizens Financial Group, Inc., as senior lender and Community Investment Management, as mezzanine lender.
  
  
• A 12-month extension of an existing warehouse facility with Goldman Sachs as senior lender and Jefferies as mezzanine lender.
  
  
• Both warehouse facilities were priced more favorably than existing warehouse facilities and reduced overall warehouse financing costs. The structure of the other existing warehouse facilities remains unchanged.
  
  
• An increase in total committed warehouse capacity from $954 million to $1.14 billion, and an increase in the weighted average remaining term for combined warehouse facilities from 17 months to 25 months.
  
  
• The repayment of $17.5 million of higher cost corporate debt since the end of the third quarter, resulting in a total corporate debt pay-down of $50 million since the facility’s inception in October 2024.
  

“Reducing total warehouse financing costs while increasing committed warehouse capacity helps ensure Oportun is well placed to continue delivering for our investors and members,” said Paul Appleton, Interim Chief Financial Officer at Oportun. “The support from our existing lender group and the addition of two new capital partners combined with Oportun’s continued focus on paying down higher cost corporate debt strengthens our balance sheet and helps the company provide affordable credit to more qualified borrowers.”

After the end of the third quarter, Oportun proactively repaid the remaining $7.5 million of the $27.5 million in mandatory corporate loan payments due by January 2026, along with an additional $10 million eligible for early repayment without penalties.

Oportun has now reduced the initial October 2024 $235 million balance on its higher cost corporate financing facility to $185 million.

For more information visit oportun.com.

About Oportun
Oportun (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 $20.8 billion in responsible and affordable credit, saved its members more than $2.5 billion in interest and fees, and helped its members set aside an average of more than $1,800 annually. For more information, visit Oportun.com.

About Citizens Financial Group, Inc.
Citizens Financial Group, Inc. is one of the nation’s oldest and largest financial institutions, with $218.3 billion in assets as of June 30, 2025. Headquartered in Providence, Rhode Island, Citizens offers a broad range of retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations and institutions. Citizens helps its customers reach their potential by listening to them and by understanding their needs in order to offer tailored advice, ideas and solutions. In Consumer Banking, Citizens provides an integrated experience that includes mobile and online banking, a full-service customer contact center and the convenience of approximately 3,000 ATMs and approximately 1,000 branches in 14 states and the District of Columbia. Consumer Banking products and services include a full range of banking, lending, savings, wealth management and small business offerings. In Commercial Banking, Citizens offers a broad complement of financial products and solutions, including lending and leasing, deposit and treasury management services, foreign exchange, interest rate and commodity risk management solutions, as well as loan syndication, corporate finance, merger and acquisition, and debt and equity capital markets capabilities. More information is available at www.citizensbank.com or visit us on X, LinkedIn or Facebook.

About Community Investment Management
Community Investment Management (CIM) is a global institutional investment manager providing strategic debt capital to scale responsible innovation in lending. As part of its investment mandate, CIM partners with fintechs to address credit gaps in the US and emerging markets. For more information, visit https://cim-llc.com.

About Goldman Sachs
Goldman Sachs is a leading global financial institution that delivers a broad range of financial services to a large and diversified client base that includes corporations, financial institutions, governments and individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world.

About Jefferies
Jefferies (NYSE: JEF) is a leading global, full-service investment banking and capital markets firm that provides advisory, sales and trading, research and wealth and asset management services. With more than 47 offices in 21 countries around the world, we offer insights and expertise to investors, companies and governments.

Investor Contact
Dorian Hare
(650) 590-4323
ir@oportun.com

Media Contact
Michael Azzano
Cosmo PR for Oportun
(415) 596-1978
michael@cosmo-pr.com

FAQ

What did Oportun (OPRT) announce on October 14, 2025 about warehouse capacity?

Oportun increased committed warehouse capacity from $954 million to $1.14 billion.

How much is the new warehouse facility Oportun (OPRT) closed and who are the lenders?

Oportun closed a $247 million three‑year revolving warehouse with Citizens Financial Group as senior lender and Community Investment Management as mezzanine lender.

What change occurred to Oportun's (OPRT) weighted average warehouse term?

The weighted average remaining term for combined warehouse facilities increased from 17 months to 25 months.

How much corporate debt has Oportun (OPRT) repaid since October 2024?

Oportun repaid a total of $50 million of higher‑cost corporate debt since October 2024, lowering the balance to $185 million.

Did the new and extended facilities affect Oportun's (OPRT) financing costs?

Yes; both the new $247M facility and the extended Goldman Sachs/Jefferies facility were priced more favorably and reduced overall warehouse financing costs.