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Harmoney Corp Ltd ( (AU:HMY) ) has shared an announcement.
Harmoney Corp Limited has secured a $15 million revolving corporate debt facility with a leading ‘Big-4’ Australian bank, aimed at supporting loan book growth and general corporate purposes. This new facility, which replaces a previous $22.5 million debt at a lower margin, underscores Harmoney’s strong profit growth and credit quality. The facility, notable for its rarity in the non-bank financial sector, is expected to significantly reduce funding costs and enhance the company’s financial stability, reflecting positively on its growth and profitability.
The most recent analyst rating on (AU:HMY) stock is a Hold with a A$1.00 price target. To see the full list of analyst forecasts on Harmoney Corp Ltd stock, see the AU:HMY Stock Forecast page.
More about Harmoney Corp Ltd
Harmoney Corp Limited is a 100% consumer-direct personal lender operating in Australia and New Zealand. The company offers unsecured and secured personal loans through a fully online platform, leveraging its proprietary Stellare® digital lending technology. This platform utilizes predictive behavioral analytics and machine learning to automate credit decisions and provide risk-based pricing. Harmoney’s operations are supported by a diversified funding panel, including partnerships with three of Australia’s ‘Big-4’ banks, and a significant portion of its loan originations come from existing customers.
Average Trading Volume: 94,177
Technical Sentiment Signal: Hold
Current Market Cap: A$84.03M
See more insights into HMY stock on TipRanks’ Stock Analysis page.