New Securitization Facility for NextGear Capital

Reuters - February 22, 2013

Cre­at­ed from the merg­er of Man­heim Auto­mo­tive Finan­cial Ser­vices and Deal­er Ser­vices Corp., (2012) NextGear Cap­i­tal, Inc. announces its most recent secu­ri­tized bank facil­i­ty.

Find out more about growth plans for this major play­er.

NextGear Cap­i­tal, Inc., the most com­pre­hen­sive provider of lend­ing prod­ucts and sup­port ser­vices for the auto­mo­tive remar­ket­ing indus­try, is pleased to announce the recent clos­ing of its $1.55 bil­lion secu­ri­tized bank facil­i­ty.

David Horan, Chief Finan­cial Offi­cer of NextGear Cap­i­tal, com­ment­ed on this lat­est financ­ing. “With the respon­si­bil­i­ty of sup­port­ing a grow­ing deal­er body of over 17,000 across North Amer­i­ca, it is crit­i­cal that NextGear Cap­i­tal has a strong bank group that ful­ly under­stands our busi­ness and is com­mit­ted to our growth objec­tives, both short and long term. We have accom­plished that goal with these bank­ing rela­tion­ships and this new facil­i­ty.”

 

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