Company News Summary
Money3 Corporation Enters Into Binding Agreement to Acquire Automotive Financial Services
03 Dec 2020 | 09:08:00 | Associate analysts | Increase | Decrease | 
Original announcement: Automotive Acquisition into Near Prime Market Segment
Money3 Corporation announced it has entered into a binding agreement to acquire Automotive Financial Services (AFS), a non-bank funder of consumer and commercial vehicles operating in the near-prime automotive segment. Specialising in vehicle loans up to $0.10m with competitive interest rates, AFS extends Company's product offering along the credit quality curve. Following the announcement of Company securing a $250m warehouse securitisation facility from a globally recognised A+ rated bank, AFS brings funding from a large Australian bank, further diversifying funding lines.
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