Customise Consent Preferences

We use cookies to help you navigate efficiently and perform certain functions. You will find detailed information about all cookies under each consent category below.

The cookies that are categorised as "Necessary" are stored on your browser as they are essential for enabling the basic functionalities of the site. ... 

Always Active

Necessary cookies are required to enable the basic features of this site, such as providing secure log-in or adjusting your consent preferences. These cookies do not store any personally identifiable data.

No cookies to display.

Functional cookies help perform certain functionalities like sharing the content of the website on social media platforms, collecting feedback, and other third-party features.

No cookies to display.

Analytical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, bounce rate, traffic source, etc.

No cookies to display.

Performance cookies are used to understand and analyse the key performance indexes of the website which helps in delivering a better user experience for the visitors.

No cookies to display.

Advertisement cookies are used to provide visitors with customised advertisements based on the pages you visited previously and to analyse the effectiveness of the ad campaigns.

No cookies to display.

Search
Close this search box.

AutoNation Finance Closes $700 Million Securitization Deal

AutoNation Finance Closes $700 Million Securitization Deal

AutoNation, announced that, through its captive finance company, it completed its inaugural asset-backed securitization, generating $700 million in funding for its automobile loan portfolio at a weighted-average fixed interest rate of 4.90%.

Financial Technology Insights: Figure Teams Up with Victory Park in Strategic Partnership

“I am very pleased with our first ABS transaction,” said Mike Manley, Chief Executive Officer of AutoNation. “Strong demand enabled us to deliver a great result – the final interest rate was competitive, lower than the cost of the debt it will replace, we achieved an initial 98% advance rate, and we were able to increase the size of the offering by $200 million, freeing up additional capital to support our capital allocation priorities. Congratulations to the AutoNation Finance team for an excellent outcome.”

Financial Technology Insights: Airwallex Secures $300 Million, Hits $6.2 Billion Valuation

About AutoNation, Inc. 
AutoNation, one of the largest automotive retailers in the United States, offers innovative products and exceptional services as part of a portfolio of comprehensive solutions for our customers and their automotive needs. With a nationwide network of dealerships strengthened by a recognized brand, we offer a wide variety of new and used vehicles, customer financing, parts, and expert maintenance and repair services. Through DRV PNK, we have raised over $40 million for cancer-related causes, demonstrating our commitment to making a positive difference in the lives of our Associates, Customers, and the communities we serve.

Financial Technology Insights: Synchrony, Discount Tire Extend Consumer Financing Deal

To share your insights with the FinTech Newsroom, please write to us at sudipto@intentamplify.com

Source: PR newswire

Share With
Contact Us
StatCounter - Free Web Tracker and Counter