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.
Today McLeod Software announced their enhanced solution for private fleet trucking operations, called LoadMaster Private Fleet. The solution is built on the company's proven LoadMaster Enterprise operations software, already used by dozens of private...
At the end of February 2024, the UK ran its second Hydrogen Week. During this week, Hyundai set two new records for the driving range of its fuel cell electric vehicles (FCEVs). While certainly a significant achievement, will the ultimate range of...
Today, Effy Jewelry announces the debut of its first-ever charter cruise, Escape with Effy, in collaboration with award-winning cruise line Holland America Line. Taking place this August, the charter cruise will give travelers an exclusive look and...
Raceway Kia of Freehold has once again been recognized as one of the top-performing Kia dealerships in North America. The dealership has been named a two-time winner of the Kia President's Club award; an honor reserved for only the most outstanding...
ShipSaving, a fast-growing shipping platform recognized in the 2023 Deloitte Technology Fast 500tm, proudly announces a groundbreaking development as the first multi-carrier shipping company to offer UPS no-label shipping. This innovative feature...
Radiant Logistics, Inc. , a leading provider of technology enabled global transportation and value-added logistics solutions, is pleased to announce it has been recognized by Transport Topics in both the Logistics Top 100 as well as the Freight...
