Pagaya Technologies (NASDAQ: PGY) closed a $600 million asset-backed securities (ABS) transaction. The deal was backed by personal loans. Designated PAID 2026-6, the transaction secured a AAA rating. This rating signals strong credit quality and investor confidence in Pagaya's AI-powered underwriting capabilities. The company achieved more favorable pricing compared to its recent transactions.
The offering attracted 47 unique investors. This included three new institutions joining Pagaya's platform. The latest deal sets a record for the company. Total year-to-date ABS issuance now exceeds $9 billion. Personal loan specific issuance for 2026 surpasses $6 billion.