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Exeter Finance Files for IPO, Expects to Raise $100M

Subprime lender Exeter Finance Corp. filed for an initial public offering to gain a larger marketshare in the “fragmented” auto finance industry, the company said in a Jan. 8 regulatory filing with the U.S. Securities and Exchange Commission. Blackstone-backed Exeter expects to raise $100 million in the IPO, the filing notes, though the timing of […]

5 Private-Equity Trends to Watch in 2018

In the recovery period following the great recession there was a surge of private-equity investment in the auto finance space, but since then enthusiasm has waned. Several firms are looking for an exit ramp from properties they have sunk billions of dollars into as delinquencies soar. Independent finance companies have been unable to stop delinquencies […]

Thomas Anderson Named New CEO of Exeter

Blackstone Group-backed Exeter Finance Corp. named Thomas Anderson chief executive of the Texas-based subprime lender effective November 3, 2014. The company said in a release that current CEO Mark Floyd will continue serving on Exeter's board and will work with Anderson to ensure a smooth transition.

Exeter Aims at Reducing Risk, Grows Funding

Exeter Finance Corp., the subprime auto lender, said Friday it increased its available lending capacity by $575 million to $1.65 billion with the renewal of its warehouse funding facility. The new facility has a three-year term with a final maturity date of September 2017. Citibank acted as the structuring agent. Lenders also included Wells Fargo, […]