Pagaya (PGY) Closes $800 Million Personal Loan ABS Transaction

AI Summary

On June 15, 2026, Pagaya Technologies Ltd. (PGY) closed an upsized $800 million AAA-rated personal loan ABS deal, named PAID 2026-4, which attracted 39 unique investors. This transaction increased Pagaya's year-to-date personal loan ABS issuance to nearly $4 billion and marked its third upsized personal loan ABS deal this year. Since 2018, the company has issued a total of $40 billion across 91 ABS transactions. Additionally, Texas Capital initiated coverage of PGY with a 'Buy' rating and a $27 price target, highlighting its AI technology-enabled business model in consumer credit underwriting.