[RAM] Poseidon fully redeems First Tranche Senior MTN ahead of maturity

RAM Ratings has received confirmation that Poseidon ABS Berhad (Poseidon) fully redeemed its outstanding RM318 mil First Tranche Senior Medium-Term Notes (Senior MTN) on 2 September 2025, ahead of the maturity date of 3 August 2026. We have accordingly withdrawn the AA₂/Stable rating of the Senior MTN (last affirmed on 10 October 2024) and no longer have any rating obligation in respect of it. 

Poseidon is a trust-owned special-purpose vehicle incorporated to facilitate the securitisation of Buy Now Pay Later receivables, marketed under the SPayLater name, and originated by Monee Capital Malaysia Sdn Bhd (formerly known as SeaMoney Capital Malaysia Sdn Bhd). Two outstanding tranches remain under Poseidon’s RM3.5 bil asset-backed MTN programme to date (see here).


Analytical contacts
Joel Thum
(603) 2708 8232 
joel@ram.com.my

Lim Chern Yit
(603) 2708 8302 
chernyit@ram.com.my

Media contact
Sakinah Arifin
(603) 2708 8212
sakinah@ram.com.my