IRVING, TEXAS, May 9, 2013 – Exeter Finance Corp., a specialty auto finance company, announced the completion of its third rated term securitization, issuing $400,000,000 in notes backed by subprime automobile installment receivables.
The notes were purchased by qualified institutional buyers and accredited investors in a private placement offering pursuant to Rule 144A of the Securities Act.
The four note classes carried ratings ranging from AAA/AA through BB/BB from DBRS and Standard & Poor's, respectively. The weighted average coupon was 2.7 percent. Citigroup and Wells Fargo Securities acted as lead managers, while Deutsche Bank Securities and Goldman, Sachs & Co. acted as co-managers. All notes included in this securitization have been sold.
This announcement of their sale appears as a matter of record only.