|
EQS-News: AUTO1 Group SE
/ Key word(s): Financing
AUTO1 Group extends availability period of inventory financing and increases size of consumer loan refinancing
Berlin, January 31, 2023 – AUTO1 Group SE, Europe’s leading digital automotive platform for buying and selling used cars, today announces the one year extension of its EUR 1 billion inventory asset-backed securitisation (ABS) financing from February 2024 to February 2025. In addition, the company increased its consumer loan ABS for refinancing car loans extended to Autohero, the Group’s retail brand, customers in Germany and Austria from EUR 150 million to EUR 250 million. AUTO1 Group will use the extended and increased financing capacity to further expand its already market-leading car selection for wholesale and retail customers, as well as to provide Autohero customers with financing solutions to buy their cars with the Group’s retail brand. Markus Boser, CFO of AUTO1 Group: "The extension of our inventory ABS and the increase of our consumer loan ABS are important steps in AUTO1 Group’s mission to build the best way to buy and sell cars. Securing and closing these two transactions in the current macro-economic environment demonstrates strong support from our banking partners and the strength and resilience of our business model.” Further expanding consumer financing By combining the purchase and the financing of a car into one single digital transaction, AUTO1 Group is building the best car buying experience through its retail brand Autohero. The increased consumer loan ABS, with Citigroup as arranger and Senior Note Purchaser, will provide additional funding to steadily grow the consumer financing portfolio in existing and new markets. The Group closed the inventory ABS extension with the existing senior note holders with no change in economic terms. Credit Agricole CIB acted as lead arranger for the facility. On both transactions, AUTO1 Group was advised by Freshfields Bruckhaus Deringer. Hogan Lovells advised the lenders.
About AUTO1 Group Founded in 2012, AUTO1 Group is a multi-brand technology company that is building the best way to buy and sell cars online. Its local European consumer brands like wirkaufendeinauto.de offer consumers the fastest and easiest way to sell their car. Its merchant brand, AUTO1.com, is Europe's largest wholesale platform for car trading professionals. With its retail brand Autohero, AUTO1 Group is using its technology, scale and operational excellence to develop the best consumer experience to buy a car online. AUTO1 Group is operating in over 30 countries and achieved revenues of €4.78 billion in 2021. Following its successful IPO in February 2021, the group's shares are trading on the regulated market (Prime Standard) of the Frankfurt Stock Exchange under the trading symbol AG1 and the ISIN DE000A2LQ884. For more information please visit www.auto1-group.com
Investor Relations contact Alexander Enge Senior Manager Investor Relations Phone: +49 (0)30 - 2016 38 213 Email: ir@auto1-group.com
Media Relations contact Christine Preyer Director Communications & PR Phone: +49 (0)175 64 59 192 Email: press@auto1-group.com
31.01.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
| Language: | English |
| Company: | AUTO1 Group SE |
| Bergmannstraße 72 | |
| 10961 Berlin | |
| Germany | |
| Internet: | https://www.auto1-group.com/de/ |
| ISIN: | DE000A2LQ884 |
| WKN: | A2LQ88 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Tradegate Exchange |
| EQS News ID: | 1547035 |
| End of News | EQS News Service |
|
|
1547035 31.01.2023 CET/CEST
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
