Pagaya Technologies closed an upsized $900 million asset-backed securities transaction. The PAID 2026-5 deal is the company's largest personal loan securitization since 2022. Senior tranches of the transaction received a AAA rating.
Strong institutional demand drove the decision to upsize the offering. The transaction attracted 37 unique investors. Four participants are new to the Pagaya platform.
This issuance brings Pagaya's year-to-date total to a record $7.5 billion. Pagaya uses its AI-powered network to fund loans for its lending partners.