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Blue Motor Finance prices third public asset backed securitisation.
Blue Motor Finance Ltd (Blue) has just priced its third public asset backed securitisation of its loans, Azure Finance No.3 PLC, which is expected to close later this month.
This transaction is backed by around £245m of loans. It is the first ‘full stack’ sterling denominated auto loan securitisation of 2023. The transaction is expected to be rated by both Moody’s and DBRS, with the senior notes achieving triple-A ratings from both agencies. This is the first Blue securitisation to be rated by DBRS and the transaction has obtained the STS label.
The securitisation has generated strong interest from investors, with pricing being achieved in a relatively short time-frame, confirming investors’ confidence in Blue’s credentials for carefully managing credit risk and its ability to deliver excellent customer services and sound performance.
Tiku Patel, CEO of Blue Motor Finance commented:
“Blue continues to underwrite prudently, provide excellent servicing and collection operations, and to treat customers fairly. Blue is delighted that the soundness of its business approach and portfolio performance is to be recognised through this transaction. Blue particularly appreciates the support and confidence of all its investors and partners as it continues to grow and develop.”
