The expansion of the asset-backed securities market continues, with business lender Prospa completing its first public ABS issue. It joins Plenti and Wisr as new ABS issuers this year.

The PROSPArous Trust 2021-1 transaction raised A$200 million and is backed by a portfolio of small business loans and line of credit facilities.

The notes were priced on a weighted average margin of 234 basis points over the one-month bank bill swap rate. The A notes, worth $134 million were priced at a margin of 140 bps.

Prospa reported that is originating more than $40 million of loans a month – well above originations at the same time last year.

Last month, consumer lender Plenti made its inaugural ABS issue, with a deal worth $306.6 million. Plenti Auto ABS 2021-1 is backed by a portfolio of secured auto loan receivables and was priced at a weighted average margin of 97 bps.

In May, consumer lender Wisr entered the market with a $225 million issue. Wisr Freedom Trust 2021-1 is supported by a pool of amortising unsecured personal loans and was priced at a weighted average margin of 150 bps.