- 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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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