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Exeter Finance Corp. Announces $500 Million Securitization

Exeter announced this week the pricing of a $500 million securitization backed by auto loan receivables.

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Exeter Finance Corp. Announces $500 Million Securitization

Exeter Finance Corp. announced that EFCAR LLC, a wholly owned subsidiary of Exeter, priced $500 million in aggregate principal amount Series 2014-2 automobile receivable backed notes, which will be issued in four separate tranches.

CarFinance Capital Completes $304 Million Asset-Backed Securitization

CarFinance Capital finalized its $304 million asset-backed securitization in a transaction that closed in late October.

Exeter Finance Completes $200 Million Securitization

Exeter Finance Corp. announced last week the completion of its first rated term securitization, issuing $200 million in notes backed by subprime automobile installment receivables.

SNAAC Sells to Investor Group, Secures Expanded Credit Facilities

Security National Automotive Acceptance Corp. announced it has closed on the sale of the company to a group of private investors and has secured $450 million of senior debt financing.

Prestige Financial Announces $150 Million Funding Facility with Wells Fargo Securities

Prestige Financial’s $150 million funding facility with Wells Fargo Securities has a renewable one-year term and will assist Prestige in growing its loan portfolio and completing periodic asset-backed securitizations.

GM Financial Announces $1 Billion Asset-Backed Securities Offering

GM Financial announced the pricing of a $1 billion offering of automobile receivables-backed securities through lead managers Barclays Capital, RBS and Wells Fargo Securities.

Standard & Poor’s Downgrades AmeriCredit’s Ratings

Standard & Poor's Ratings Services said that it lowered two credit ratings for AmeriCredit Corp., saying the auto finance company faces further deterioration in its loan portfolio.

Financial Regulatory Reform Could Pose a Threat to Securitization

The Obama administration’s proposal for reform of the financial system, which was introduced June 17, could pose a threat to securitization, says ratings firm DBRS.

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