US EditionAutoNation Finance Completes Inaugural $700 Million Asset-Backed Securitization
- AutoNation, Inc. Completed its first asset-backed securitization on May 21, 2025, in Fort Lauderdale, Florida, raising $700 million for its automobile loan portfolio.
- The transaction followed strong market interest and AutoNation's position as a leading U.S. Automotive retailer with a nationwide dealership network.
- The securitization secured funding at an average fixed rate of 4.90%, featured an initial advance rate of 98%, and was expanded by $200 million in response to strong investor interest.
- AutoNation CEO Mike Manley expressed satisfaction with the company’s inaugural ABS transaction, noting that the final interest rate was lower than the replaced debt, and that the deal freed up additional capital.
- This successful transaction enhances AutoNation’s capital allocation capacity and reflects its ongoing commitment to serving customers and communities through innovative products and services.
32 Articles
32 Articles
The Berkshire Eagle
AutoNation Finance Completes Inaugural $700 Million Asset-Backed Securitization
FORT LAUDERDALE, Fla., May 21, 2025 /PRNewswire/ -- AutoNation, Inc. (NYSE: AN) today announced that, through its captive finance company, it completed its inaugural asset-backed securitization, generating $700 million in funding for its automobile loan portfolio at a weighted-average fixed…
Dealer news: AutoNation raises $700M in first ABS; Alabama Ford stores add public fast chargers
AutoNation has become the latest auto retailer to issue an asset-backed securitization. The company announced it has completed its first ABS through its captive finance company, generating $700 million in funding for its auto loan portfolio at a weighted-average fixed interest rate of 4.90%. CEO Mike Manley congratulated the AutoNation Finance team for “an excellent outcome.” “Strong demand enabled us to deliver a great result,” he said. “The fi…
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