Vroom Prices $234.2 Million Auto ABS, Expands Convertible Notes Commitments
Vroom said its subsidiary closed an auto ABS backed by approximately $292.1 million of subprime receivables, issuing $234.2 million of fixed-rate notes. The company also expanded commitments for its 2032 convertible notes to $60 million.
Vroom announced two financing actions to bolster liquidity and funding. United Auto Credit, its subsidiary, closed an auto ABS backed by approximately $292.1 million of subprime receivables, issuing $234.2 million of fixed-rate notes across Classes A—E via United Auto Credit Securitization Trust 20…