OneMain presents plans for credit card term ABS program
OMF•OneMain plans to establish a credit card term ABS program in 2027. It reported $4 billion to $6 billion in annual debt issuance, more than 24 months of liquidity runway and 5.5 times net leverage in the second quarter of 2026.
1. Funding plans and liquidity
OneMain plans to establish a credit card term ABS program in 2027, alongside routine ABS issuance. Annual debt issuance totals $4 billion to $6 billion across its funding channels. Liquidity runway exceeds 24 months, supported by $7.5 billion in total bank capacity; unencumbered receivables total $11.6 billion, and no unsecured debt matures until January 2027. Net leverage was 5.5 times in the second quarter of 2026, within its target range of four to six times.
