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Lendbuzz Completes $262 Million Asset-Backed Securitization
Lendbuzz, an AI-based fintech company that helps consumers obtain better access to credit when purchasing a vehicle, announced today that it has closed a $262 million securitization (“LBZZ 2025-1”) collateralized by a pool of auto loans made to obligors and secured by new and used automobiles, light duty trucks, and vans.
LBZZ 2025-1 issued four classes of notes: Class A-1, Class A-2, Class B, Class C. The LBZZ 2025-1 notes have been rated by S&P Global Ratings (S&P) and Kroll Bond Rating Agency (KBRA) as NR/K1+, AA/AAA, A/AA- and NR/A-, respectively.
J.P Morgan Securities LLC acted as lead bookrunner and structuring agent, with Goldman Sachs & Co. LLC, MUFG and RBC Capital Markets, LLC as joint bookrunners; Mizuho and Regions Securities LLC acted as co-managers.
“We are thrilled to see our ABS program continue to grow with strong execution and a growing, committed investor base,” said George Sclavos, Chief Financial Officer at Lendbuzz. “The program continues to attract new investors with each transaction, underscoring investment community confidence in our offerings.”
LBZZ 2025-1 is Lendbuzz’s ninth public securitization since launching the program in late 2021. To date, the company has completed over $1.9 billion of asset-backed securitizations and remains committed to growing the program as part of its diverse funding strategy.
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