Vroom Reveals Pricing Of UACC Auto Loan Securitization

by Shivani Kumaresan, Benzinga Staff Writer

July 15, 2022 12:05 PM | 1 min read | Make a Comment

Vroom Inc VRM subsidiary, United Auto Credit Corporation (UACC), has priced an auto loan securitization of $255.08 million of automobile receivable backed notes.
The transaction represents UACC's fourteenth securitization overall and second since its acquisition by Vroom on February 1, 2022. The offering features five classes of sequential-pay securities.
UACC expects to sell about $285.00 million in the principal balance of auto loans to a special purpose trust.
The company expects transaction settlement for the Notes on or about July 20, 2022.
Price Action: VRM shares are trading higher by 5.41% at $1.56 on the last check Friday.

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