Octane Lending, the fintech revolutionizing the buying experience for major recreational purchases, announced that it has closed a $219 million securitization collateralized by its fixed-rate installment RV and marine loans issued through its in-house lender, Roadrunner Financial.
This is Octane’s second transaction under its RV/Marine shelf, denoted with the “RVM” ticker. Its first, OCTL 2024-RVM1, was named as the ABS Deal of the Year at the GlobalCapital US Securitization Awards 2025. The 2024 transaction represented the first securitization composed solely of RV and marine collateral to be brought to market in two decades. Since launching its securitization program in December 2019, Octane has completed 16 asset-backed securitizations totaling over $4.7 billion.
OCTL 2025-RVM1 consists of five classes of fixed-rate notes: Class A, Class B, Class C, Class D and Class E, which Standard & Poor’s (S&P)* rated as AAA, AA, A, BBB, and BB+ respectively, in a private offering pursuant to Rule 144A under the Securities Act of 1933, as amended. ATLAS SP Securities acted as lead manager and structuring agent, with J.P. Morgan Securities, Mizuho, and Truist Securities serving as joint bookrunners and First Citizens Capital Securities serving as co-manager.
“The successful execution of our second RVM securitization reflects the growing maturity of our RVM platform and the market’s recognition of RV and marine as a compelling, high-quality asset class,” said Nicholas Makarov, senior vice president and head of capital markets at Octane. “We’ve seen investor interest deepen meaningfully as we’ve broadened our presence in these segments, and we’re grateful for that continued support. As the program scales, the depth of demand across the capital structure reflects continued confidence in our performance, our underwriting, and our ability to grow responsibly.”
Octane has continued to build significant momentum in both its business and its Capital Markets program, the company said. It has more than doubled its RV originations each year since entering the market in 2022 and is on track to more than double RV originations again in 2025. Octane first began financing pontoons in 2022 and expanded its presence in the Marine market in 2024. Additionally, Octane has closed three powersports forward-flow transactions and two whole-loan sales in 2025 and has cumulatively sold or secured commitments to sell $3.3 billion in loans since December 2023.
*The full analysis for S&P’s ratings, including any updates, is available on spglobal.com and can be accessed here.
