Mila 2024-1 B.V: 14 June 2024

A stand-alone transaction, where the Issuer will make payments on the Notes from payments of principal and interest received from a portfolio comprising amortising consumer loans originated by the Seller. Legal title to the Loan Receivables will be assigned by the Seller to the Issuer on the Closing Date and, in respect of any New Loan Receivables, subject to certain conditions being met, on each Weekly Transfer Date during the Revolving Period.

The main business activity of Lender & Spender is the origination, servicing and financing of consumer loans. The company also offers its bank transaction analysis software as a service to third parties. In July 2023, auxmoney became the majority shareholder of Lender & Spender Holding BV. Since the start of the partnership, monthly origination volume has increased to approximately EUR 25 million.

At the cut-off date (31 May 2024) the pool consisted of 20,682 loans, where the average outstanding loan amount is Eur11,944. Each Loan is an amortising loan (aflopend krediet). Part of the Loans are purchase credits (goederenkredieten) to Borrowers for the purpose of purchasing of a good. Under each Loan, the Borrower has to pay during the term of the loan on a monthly basis a fixed amount, consisting of a principal part and an interest part, if applicable, based on a fixed rate of interest. These loans are fixed term, non-revolving loans. The Borrowers repay on a monthly basis a fixed instalment according to an amortisation schedule which is fixed as of origination. No balloon payment is applicable at the maturity date. The WA seasoning is 7 months.

EU & UK Risk Retention: The Seller, as originator within the meaning of Article 6 of the Securitisation Regulation, will at all times retain, on an ongoing basis, a material net economic interest in the securitisation transaction, for as long as the Asset-Backed Notes are outstanding, which shall in any event not be less than 5% of the aggregate Outstanding Principal Amount of the Loan Receivables sold.

US Risk Retention: The issue of the Notes will not involve risk retention by the Seller or any other party within the meaning of, and for the purposes of, the US Risk Retention Rules, but rather will be made in reliance on an exemption provided for in section 20 of the US Risk Retention Rules regarding non-US transactions.

STS: The transaction is intended to qualify as a STS Securitisation within the meaning of Article 18 of the Securitisation Regulation.

Compare/contrast: Aurorus 2023 BV, Magoi BV