Why the Humm (ASX:HUM) share price will be on watch on Thursday

The Humm Group Ltd (ASX: HUM) share price will be one to watch on Thursday.

This follows the release of an announcement by the financial services company just as the market closed on Wednesday.

What did Humm announce?

This afternoon Humm announced the pricing of $450 million of asset-backed securities (ABS), which is significantly more than previously planned. These are supported by a pool of fully amortising, secured commercial auto and equipment finance receivables.

According to the release, strong investor demand enabled a upsize of $150 million over the launch amount previously flagged in February. The receivables are originated through…