Affirm, CPP Investments Extend Longstanding Loan Purchase Agreement

MT Newswires Live

06/04

Affirm (AFRM) and Canada Pension Plan Investment Board said Thursday that they have renewed and expanded their forward-flow agreement for consumer installment loans.

Affirm will receive a $1.7 billion commitment from CPP Investments to purchase its loans under a 24-month arrangement, with the potential to increase the commitment to $2.2 billion, the company said.

The agreement is expected to support $8 billion in consumer loan volume over its term.

Shares of Affirm were up more than 1% in recent Thursday trading.

Price: 66.22, Change: -0.05, Percent Change: -0.08

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