PROG Holdings Subsidiary Purchasing Power Closes $225 Million ABS Offering

PROG Holdings, Inc. +0.75%

PROG Holdings, Inc.

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PROG Holdings Inc.’s subsidiary Purchasing Power closed a $225 million asset-backed securities (ABS) offering, Purchasing Power Funding 2026-A, backed by a diversified pool of consumer receivables from its payroll purchase platform. The multi-tranche notes carried a blended rate of 4.87% and were rated from AAA (Class A) down to BB- (Class E), with proceeds used to repay existing facilities and fund new originations.

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