ThunderRoad Financial LLC has delayed the issuance of its second asset-backed securitization in an effort to drum up greater investor interest, said Donal Hummer Jr., the company’s president and chief executive.
“We’re probably going to be looking now at the first quarter of next year,” he told Powersports Finance. “In order to get a large enough securitization together, it makes more sense for us. We started to go down that road last fall and, to be honest, come Thanksgiving not a lot of things happen in the capital markets until the first of the year. So we said, ‘Let’s do it next year and do a bigger one.'”
In April, ThunderRoad Financial became the second powersports lender — behind Harley-Davidson Financial Services — to securitize prime and subprime motorcycle retail installment loans.
Separately, the Reno, Nev.-based lender is looking to enter into credit facility arrangements. “We’re in negotiations for those, which will allow us to grow substantially next year,” he said.
Hummer will speak on the “Keys to Successful Subprime Lending” panel at the upcoming PowerSports Finance 2016 on Oct. 5 at the Bellagio Las Vegas. For information or to register, visit www.go.powersportsfinance.com.Like This Article