SAFCO Closes on $225 Million Asset-Backed Securities Issuance
POMPANO BEACH, Fla., Jan. 26, 2024 /PRNewswire/ -- Southern Auto Finance Company, LLC ("SAFCO") is pleased to announce the successful completion of its second asset-backed securities ("ABS") issuance, further strengthening the company's liquidity position and ability to execute on its growth strategies.
Southern Auto Finance Company, LLC announces the successful completion of its second asset-backed securities issuance.
SAFCO successfully issued $225 million in rated Notes. Notably, the Class A Note received a rating of AAA from Kroll, attesting to the consistent performance and strength of SAFCO's origination platform. The transaction was well received by the market with strong subscription levels.
George Fussell, CEO of SAFCO, emphasized the significance of this financing milestone, stating, "We have successfully secured long-term, fixed-rate financing at attractive rates. This financing transaction is designed to strengthen our balance sheet while at the same time supporting our expansion into new markets. Our focus remains on broadening our portfolio and accelerating growth in markets that align with our target demographic, particularly in underbanked segments. We expect to be a regular issuer in the capital markets with increasing frequency and larger deal sizes as we grow our portfolio."
About SAFCO
SAFCO is an industry-leading auto finance company with the power to see creditworthiness where others don't. Our proprietary originations system, complete with deep machine learning, enables us to see beyond credit scores and basic alternative data and instead base our decisions on unique, realistic insights that reveal the full credit potential of applicants. SAFCO is headquartered in Pompano Beach, Florida.
Contact: Jason Person Chief Financial Officer 954-745-2503 [email protected]
Performance Brokerage Services, North America's highest volume dealership brokerage firm, is pleased to announce the sale of MotorCity Power Sports in Bloomfield Hills, Michigan from Thomas Celani of MotorCity Powersports...
Eastern Platinum Limited (JSE: EPS) ("Eastplats" or the "Company") is pleased to report that it has filed its Audited Consolidated Financial Statements for the fiscal year ended December 31, 2023 and the corresponding Management's Discussion and...
Chemistree Technology Inc. and (US OTC: CHMJF) (the "Company" or "Chemistree"), announces that its board of directors (the "Board") has approved a restructuring transaction (the "Restructuring Transaction"), pursuant to which all of the principal of...
ClaimsFiler, a FREE shareholder information service, reminds investors that they have until May 20, 2024 to file lead plaintiff applications in a securities class action lawsuit against The Chemours Company , if they purchased or otherwise acquired...
In the news release, Nomic Unveils Bitcoin Liquid Staking Token Powered by Babylon's Bitcoin Staking Protocol, issued 10-Apr-2024 by Nomic DAO Foundation over PR Newswire, we are advised by the company that the dateline should read "GEORGE TOWN,...