Capital Markets | Auto Finance News

Honda Finance injects $1B into ABS market

Loans in American Honda Finance Corp.‘s latest securitization have the shortest original and remaining terms when compared with other issuers’ pools, according to a Moody’s Investor Services presale report. The $1.1 billion securitization is on track to be upsized to $1.3 billion based on investor demand. Read more: American Honda Finance Dodges Class-Action Lawsuit The loans backing […]

Fair eyes new debt funding

Fair is in discussion with a "major global financial institution" for as much as $500 million of debt funding, Co-Founder Georg Bauer told Auto Finance News. To date, the 3-year-old vehicle subscription company has raised $1.5 billion in funding over nine rounds. "Once this [funding] is closed, we are picking up our work with the […]

Losses widen for rideshare giants in 2Q

Both Uber and Lyft continue to struggle to become profitable enterprises, according to second-quarter earnings reports filed by the two companies last week. Lyft’s losses more than tripled in the quarter to $644.2 million, despite increases in revenue and ridership. Revenues shot up 72% to $867.2 million, while active riders increased 41% to 21.8 million. […]

Fewer loan modifications pushes up losses in Santander’s latest ABS deal

Santander Consumer USA's third asset-backed securitization of the year is bringing $1.2 billion auto loans to market in a deal that’s expected to close Aug. 21, according to a presale report by S&P Global Ratings issued today. The deal props up the subprime lender’s ABS volume to $3.4 billion this year, a 10.5% year-over-year decline.  The […]

GM Financial, Hyundai ramp up lease ABS with $1.9B of issuance

General Motors Financial and Hyundai Capital America are driving auto lease ABS volume, bringing a combined $1.9 billion of receivables to market, according to presale reports from S&P Global Ratings.  GMF’s $1 billion deal marks the captive’s third lease securitization this year, boosting its total volume to $3.4 billion in 2019. The collateral pool consists […]

Blinker lands $10M investment

Peer-to-peer used-car buying app Blinker scored a $10 million investment yesterday, in a funding round led by Thornapple River Capital, according to a company press release. According to Crunchbase data, this is the company’s first funding round. Blinker, which launched in 2016, uses a proprietary decisioning system to fund loans on its platform. The Denver-based […]

Credit Acceptance tops $1B in warehouse facility credit 

Credit Acceptance Corp. (CAC) has announced the completion of a $200 million revolving secured warehouse facility. In addition, the lender increased an existing $250 million revolving secured warehouse facility to $300 million, bumping CAC’s borrowing capacity on its six secured warehouse lines to $1.2 billion.  CAC’s new $200 million revolving secured warehouse facility expires July […]
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