<p>/PRNewswire/ -- Oncourse Home Solutions 是美国领先的住宅基础设施保修协议提供商，为房主提供灵活的住宅服务线路维修、维护和意外费用保护服务，今天宣布完成了 16.6 亿美元的整体业务证券化（WBS）债务发行。这笔交易被认为是首次对住宅基础设施保修协议进行证券化，为证券化市场引入了一种新的资产类别。</p>
<p>对于 Oncourse 而言，WBS 结构提供了投资级评级债务的获取渠道，这是赞助融资中可获得的最低资本成本。证券化主信托结构还提供了可移植性和重复发行的灵活性，创建了一个持久的融资平台，以支持公司的有机增长和战略性并购。</p>
<p>这笔 16.6 亿美元的证券化融资包括 3.25 亿美元的循环票据和 13.3 亿美元的定期票据。定期票据的发行通过双市场渠道进行，包括广泛分发给机构投资者的 5 年期分期和 7 年期私募分期。5 年期票据的定价远低于最近可比的 5 年期 WBS 发行，反映出强劲的投资者需求和基础信用的质量。这些票据以 Oncourse 的几乎所有收入生成资产作为担保，包括其住宅基础设施保修协议、合作协议和与其住宅基础设施保修业务相关的承包商协议。</p>
<p>Oncourse Home Solutions 的首席财务官 Dale R. Gerard 说：&#34;这笔证券化交易使我们的公司能够进入投资级债务市场，这是世界上最深的资本市场。我们在执行交易时达到了高标准，在整个过程中得到了评级机构和投资者的重大参与，我们为成为该市场的首批发行者感到自豪。&#34;</p>
<p>在 2021 年 12 月，Oncourse 被 Apax 旗下的基金通过剥离美国水务公司（American Water）的房主服务集团收购。自剥离以来，Apax 与公司的管理团队密切合作，实施了一系列运营改进，包括增强 Oncourse 的数字能力以推动客户获取和留存，并通过有针对性的并购扩展其产品供应。</p>
<p>Apax 的合伙人 Ashish Karandikar 说：&#34;我们很高兴与 Oncourse 团队的合作使我们能够为公司实现这种独特的 “奖杯资产” 融资结构。由于 WBS 需要专业的融资专业知识来应对广泛而复杂的流程，我们很高兴能够利用我们的内部能力来实现这一结果。&#34;</p>
<p>Jefferies 担任 ABS 发行的唯一结构代理和主承销商。Kirkland &amp; Ellis 担任 Oncourse 的法律顾问。交易于 2026 年 2 月 13 日完成。</p>
<p><strong>关于 Oncourse Home Solutions</strong> Oncourse Home Solutions 是一家领先的住宅基础设施保修协议提供商，专注于保护房主免受意外费用的影响，并提供灵活的住宅维修和维护服务。通过全国的合作伙伴，Oncourse Home Solutions 为超过 200 万名房主提供服务，覆盖 43 个州和哥伦比亚特区。凭借超过三十年的经验，Oncourse Home Solutions 始终致力于简化家庭护理的麻烦，并提供简单有效的保障，让房主安心。</p>
<p>访问 https://oncourse.com/ 以获取有关 Oncourse Home Solutions 的更多信息。</p>
<p>媒体联系人：Todd Fogarty，Kekst CNC，[email protected]</p>
<p>来源：Oncourse Home Solutions</p>
<p><img src="https://imageproxy.pbkrs.com/https://rt.prnewswire.com/rt.gif/query-RGF0ZUlkPTIwMjYwMjIwJk5ld3NJdGVtSWQ9Tlk5MjI3NyZUcmFuc21pc3Npb25fSWQ9MjAyNjAyMjAwODMwUFJfTkVXU19VU1BSX19fX19OWTkyMjc3?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" original-src="https://imageproxy.pbkrs.com/https://rt.prnewswire.com/rt.gif/query-RGF0ZUlkPTIwMjYwMjIwJk5ld3NJdGVtSWQ9Tlk5MjI3NyZUcmFuc21pc3Npb25fSWQ9MjAyNjAyMjAwODMwUFJfTkVXU19VU1BSX19fX19OWTkyMjc3"/></p>

<p>Oncourse Home Solutions 完成了 16.6 亿美元的整体业务证券化，标志着首次对住宅基础设施保修协议进行证券化。这笔交易为 Oncourse 提供了投资级评级的债务，增强了其融资能力，以支持增长和战略收购。证券化包括 3.25 亿美元的循环票据和 13.3 亿美元的已融资定期票据，强劲的投资者需求反映在有利的定价上。该交易由 Jefferies 担任主承销商，Oncourse 旨在利用这一新资产类别来支持其运营和扩张</p>

<p>, /PRNewswire/ -- Oncourse Home Solutions, a leading U.S. provider of home infrastructure warranty agreements, offering homeowners flexible services for residential service line repairs, maintenance, and protection from unexpected costs, today announced the completion of a $1.66 billion whole business securitization (WBS) debt issuance. The transaction is believed to be the first-ever securitization of home infrastructure warranty agreements, introducing a new asset class to the securitization market.</p>
<div class="lb-trans"><p>/PRNewswire/ -- Oncourse Home Solutions 是美国领先的住宅基础设施保修协议提供商，为房主提供灵活的住宅服务线路维修、维护和意外费用保护服务，今天宣布完成了 16.6 亿美元的整体业务证券化（WBS）债务发行。这笔交易被认为是首次对住宅基础设施保修协议进行证券化，为证券化市场引入了一种新的资产类别。</p>
</div><p>For Oncourse, the WBS structure provides access to investment-grade rated debt, the lowest cost of capital available in sponsor finance. The securitization master trust structure also provides portability and repeat-issuance flexibility, creating a durable financing platform to support the company's organic growth and strategic M&amp;A.</p>
<div class="lb-trans"><p>对于 Oncourse 而言，WBS 结构提供了投资级评级债务的获取渠道，这是赞助融资中可获得的最低资本成本。证券化主信托结构还提供了可移植性和重复发行的灵活性，创建了一个持久的融资平台，以支持公司的有机增长和战略性并购。</p>
</div><p>The $1.66 billion securitization facility includes $325 million in capacity revolving notes and $1.33 billion in funded term notes. The term notes issuance was executed across dual-market channels, comprising 5-year tranches distributed broadly to institutional investors and 7-year private placement tranches. The 5-year notes priced well inside the most recent comparable 5-year WBS issuances, reflecting strong investor demand and the quality of the underlying credit. The notes are secured by substantially all the revenue-generating assets of Oncourse, including its home infrastructure warranty agreements, partnership agreements, and contractor agreements related to its home infrastructure warranty business.</p>
<div class="lb-trans"><p>这笔 16.6 亿美元的证券化融资包括 3.25 亿美元的循环票据和 13.3 亿美元的定期票据。定期票据的发行通过双市场渠道进行，包括广泛分发给机构投资者的 5 年期分期和 7 年期私募分期。5 年期票据的定价远低于最近可比的 5 年期 WBS 发行，反映出强劲的投资者需求和基础信用的质量。这些票据以 Oncourse 的几乎所有收入生成资产作为担保，包括其住宅基础设施保修协议、合作协议和与其住宅基础设施保修业务相关的承包商协议。</p>
</div><p>Dale R. Gerard, Chief Financial Officer of Oncourse Home Solutions, said, &#34;This securitization transaction gives our company access to the investment-grade debt market, the deepest capital market in the world. We met a high bar in executing the transaction, receiving significant engagement from rating agencies and investors throughout the process, and we are proud to be an inaugural issuer in this market.&#34;</p>
<div class="lb-trans"><p>Oncourse Home Solutions 的首席财务官 Dale R. Gerard 说：&#34;这笔证券化交易使我们的公司能够进入投资级债务市场，这是世界上最深的资本市场。我们在执行交易时达到了高标准，在整个过程中得到了评级机构和投资者的重大参与，我们为成为该市场的首批发行者感到自豪。&#34;</p>
</div><p>In December 2021, Oncourse was acquired by funds advised by Apax via a carve-out of the Homeowner Services Group of American Water. Since the carve-out, Apax has worked closely with the company's management team to implement a range of operational improvements, including enhancing Oncourse's digital capabilities to drive customer acquisition and retention, and expanding its product offering through targeted M&amp;A.</p>
<div class="lb-trans"><p>在 2021 年 12 月，Oncourse 被 Apax 旗下的基金通过剥离美国水务公司（American Water）的房主服务集团收购。自剥离以来，Apax 与公司的管理团队密切合作，实施了一系列运营改进，包括增强 Oncourse 的数字能力以推动客户获取和留存，并通过有针对性的并购扩展其产品供应。</p>
</div><p>Ashish Karandikar, Partner at Apax, said: &#34;We are pleased that our partnership with the Oncourse team enabled us to achieve this distinctively 'trophy asset' financing structure for the company. As WBS requires specialized financing expertise to navigate an extensive and complex process, we were excited to bring our in-house capabilities to bear in achieving this outcome.&#34;</p>
<div class="lb-trans"><p>Apax 的合伙人 Ashish Karandikar 说：&#34;我们很高兴与 Oncourse 团队的合作使我们能够为公司实现这种独特的 “奖杯资产” 融资结构。由于 WBS 需要专业的融资专业知识来应对广泛而复杂的流程，我们很高兴能够利用我们的内部能力来实现这一结果。&#34;</p>
</div><p>Jefferies acted as Sole Structuring Agent and Lead Bookrunner for the ABS offering. Kirkland &amp; Ellis served as counsel to Oncourse. The transaction closed on February 13, 2026.</p>
<div class="lb-trans"><p>Jefferies 担任 ABS 发行的唯一结构代理和主承销商。Kirkland &amp; Ellis 担任 Oncourse 的法律顾问。交易于 2026 年 2 月 13 日完成。</p>
</div><p><strong>About Oncourse Home Solutions</strong> Oncourse Home Solutions, a leading provider of home infrastructure warranty agreements focused on protecting homeowners from unexpected costs and providing flexible services for home repairs and maintenance.. Through its partners nationwide, Oncourse Home Solutions serves over 2 million homeowners across 43 states and the District of Columbia. With over three decades of experience, Oncourse Home Solutions has stayed committed to simplifying the hassles of home care and providing coverage that simply works, giving homeowners peace of mind.</p>
<div class="lb-trans"><p><strong>关于 Oncourse Home Solutions</strong> Oncourse Home Solutions 是一家领先的住宅基础设施保修协议提供商，专注于保护房主免受意外费用的影响，并提供灵活的住宅维修和维护服务。通过全国的合作伙伴，Oncourse Home Solutions 为超过 200 万名房主提供服务，覆盖 43 个州和哥伦比亚特区。凭借超过三十年的经验，Oncourse Home Solutions 始终致力于简化家庭护理的麻烦，并提供简单有效的保障，让房主安心。</p>
</div><p>Visit https://oncourse.com/ for more information about Oncourse Home Solutions.</p>
<div class="lb-trans"><p>访问 https://oncourse.com/ 以获取有关 Oncourse Home Solutions 的更多信息。</p>
</div><p>Media Contact: Todd Fogarty, Kekst CNC, [email protected]</p>
<div class="lb-trans"><p>媒体联系人：Todd Fogarty，Kekst CNC，[email protected]</p>
</div><p>SOURCE Oncourse Home Solutions</p>
<div class="lb-trans"><p>来源：Oncourse Home Solutions</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://rt.prnewswire.com/rt.gif/query-RGF0ZUlkPTIwMjYwMjIwJk5ld3NJdGVtSWQ9Tlk5MjI3NyZUcmFuc21pc3Npb25fSWQ9MjAyNjAyMjAwODMwUFJfTkVXU19VU1BSX19fX19OWTkyMjc3" alt="" original-src="https://rt.prnewswire.com/rt.gif?NewsItemId=NY92277&amp;Transmission_Id=202602200830PR_NEWS_USPR_____NY92277&amp;DateId=20260220"/></p>

08:30 ET Oncourse Home Solutions 完成了首个 16.6 亿美元的整体业务证券化交易