Le Lézard
Classified in: Transportation, Business

Blue Launches Auto ABS Programme - Azure Finance No. 1



LONDON, Aug. 11, 2018 /PRNewswire-PRWeb/ -- Blue Motor Finance has completed its first auto loan securitisation, Azure Finance No. 1, arranged by Citigroup who were also acting as joint lead managers with Deutsche Bank. The pool balance was £365m comprising 100% fully amortising hire purchase (HP) contracts. Classes A to D were on offer with ratings from triple-A to double-B plus, with a Class X note pre-placed. Blue retained 100% of the Class E note to comply with risk retention requirements.

Blue expects to continue the Azure funding programme through regular ABS issuances going forward. Bob Jones, CEO, said "This is another milestone in the development of the business and a big vote of confidence in the strategy. Securitisation will be an integral part of Blue's diversified funding platform and will enable Blue to manage the continued and increasing demand for its financing services".

Blue is an innovative, dynamic UK Fintech changing the way auto finance and ownership works with over 70,000 customers and £750m lent to date. Blue Motor Finance are one of the fastest growing businesses in Europe, as ranked in the FT1000 Europe's Fastest Growing Companies (April 2018).

Blue is backed by private equity firm Cabot Square Capital, a UK-based specialist financial services investor.

 

SOURCE Blue Motor Finance


These press releases may also interest you

at 18:45
LAGUNA NIGUEL, Calif., Oct. 17, 2018 /PRNewswire-PRWeb/ -- Realty ONE Group, one of the nation's fastest-growing franchisors, is pleased to share that the company's Founder and CEO, Kuba Jewgieniew, has been selected as a RISMedia 2019 Real Estate...

at 18:45
People pride themselves on how far they've come when they've had a rough start to their life and have since bettered themselves. And it is something to be proud of because that much effort is something to take pride in. But does life necessarily...

at 18:43
Canaccord Genuity Growth Corp. ("CGGC") (NEO: CGGC.UN) and Columbia Care LLC ("Columbia Care") are pleased to announce that they have entered into a letter of intent ("LOI") to exclusively negotiate a business combination between the two companies...

at 18:38
The Swiss Helvetia Fund, Inc. (the "Fund") today announced that its $4.91 per share common stock dividend payable on October 19, 2018 will consist of approximately $24.87 million in cash and approximately 12.59 million shares of the Fund's common...

at 18:29
Banco Macro S.A. ("Banco Macro") informs the market that the Board of Directors of the Bank has decided to establish the terms and conditions for the repurchase of shares issued by the Bank, in accordance with Article 64 of Law No. 26,831 and the...

at 18:23
Atento S.A. , the leading provider of customer relationship management and business process outsourcing services (CRM/BPO) in Latin America, and one of the five top providers worldwide, today opened a new customer relationship center in the city of...




News published on 11 august 2018 at 09:00 and distributed by: