VRM - Vroom indirect subsidiary prices auto loan securitization
- United Auto Credit, an indirect wholly-owned subsidiary of used car retailer Vroom ( NASDAQ: VRM ), has priced an auto loan securitization of $255.080M in aggregate principal amount of automobile receivable backed notes on July 14, 2022.
- This represents UACC's 14th securitization overall and second since its acquisition by Vroom in Feb. 2022.
- The Q3 2022 securitization is a private offering in which UACC offered ~$242.325M of the notes. The transaction features five classes of sequential-pay securities with expected ratings of AAA/AAA through BB/BB by S&P Global Ratings and DBRS Morningstar, respectively.
- Transaction settlement for the notes is expected to be on or about July 20, 2022.
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Vroom indirect subsidiary prices auto loan securitization