ThunderRoad Gears Up for Second Securitization

canstockphoto18863692After adding its first securitization to the pipeline last month, ThunderRoad Financial LLC projects to return to the market later this year, according to the company’s President and Chief Executive Donal Hummer Jr.

“We just came off our first rated securitization which is a big milestone,” Hummer told Powersports Finance. “To get your first securitization done within the first two years of operation, and have a rated one too, is fabulous for us. It allows us to grow like we we’re anticipating, and we are looking to do another securitization at the end of this summer or early fall, probably a larger one than we did this last time.”

ThunderRoad Motorcycle Trust 2016-1, a $59.7 million private placement transaction under Rule 144A, was backed by prime and subprime motorcycle retail installment loans, according to a Morningstar presale report.

ThunderRoad also looks to cast a wider net around its manufacturer partnerships. “We are talking to a couple of other OEMs — nothing that I can release yet — but it wouldn’t surprise me if we have some others developed this year,” he said.

Reno, Nev.-based ThunderRoad Financial makes loans for more than 300 dealers in 30 states, and adds an average of one to two dealers to its network daily, according to Hummer. Approximately 20% of its overall portfolio are subprime or near prime consumers.

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