Vroom, Inc. (VRM): debt financing — Vroom subsidiary UACC closes $324M auto loan ABS transaction

Vroom, Inc.

UACC sold $382M subprime auto receivables to trust; trust issued $324M in notes across 5 classes (4.80%-7.71%).
12% of receivables came from affiliate Vroom Automotive, LLC.
UACC retains at least 5% of each note class for risk retention under Regulation RR.
UACC will service the receivables for a monthly fee equal to 3.25% of aggregate principal balance.
Events of default include payment failure, breach, or bankruptcy; indenture trustee may accelerate notes.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Vroom, Inc. incurred debt of $324,003,000 of asset-backed notes with Computershare Trust Company, N.A., as indenture trustee at 4.80%, 5.05%, 5.15%, 5.96%, 7.71%.

Principal: $324,003,000 of asset-backed notes
Counterparty: Computershare Trust Company, N.A., as indenture trustee
Rate: 4.80%, 5.05%, 5.15%, 5.96%, 7.71%
Event: incurrence

Exact text from the filing

es "): Notes Initial Principal Amount Interest Rate Class A $145,583,000 4.80% Class B $ 53,110,000 5.05% Class C $ 34,380,000 5.15% Class D $ 53,490,000 5.96% Class E $ 37,440,000 7.71% and (iv) as security for the Notes, the Trust pledged the Receivables to Computershare Trust Company, N.A., as indenture trustee for benefit of the noteholders (the " Indenture Trustee ").

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Vroom, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-25-039035

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