IRVINE, Calif. — CarFinance Capital LLC, a below-prime auto finance company, completed its first asset-backed securitization, issuing $238 million in notes in a transaction that closed on May 30. The offered notes were assigned ratings by Moody’s Investor Services Inc. and Kroll Bond Rating Agency Inc. of A3/AA and Ba3/BB, respectively. Credit Suisse and Deutsche Bank Securities were joint book-runners for the transaction.
The transaction comes after CarFinance Capital announced in March that it had renewed and increased its warehouse credit facility to $300 million. The increased credit line was also provided by Credit Suisse and Deutsche Bank Securities.











