Lotte Card securitizes auto installment finance receivables

*This content was translated by AI.View Original

Lotte Card issued domestic ABCP (Asset-Backed Commercial Paper) backed by auto installment finance receivables worth 167 billion won, diversifying its funding base.

On the 20th, Lotte Card secured securitized funds for the first time based on auto installment finance receivables. The maturity of this private placement ABCP is a total of 42 months, and it operates under a rollover structure involving monthly amortization refinancing until final repayment.

By signing agreements with NH NongHyup Bank, IBK Industrial Bank of Korea, and Woori Bank for ABCP purchase guarantees and credit extension, the company received recognition of the stability of this structure and obtained an A1(sf) rating from Korea Ratings and NICE Credit Rating.

A Lotte Card official, in a phone interview with this outlet, said, "Driven by the growth of auto installment finance assets, we successfully secured our first securitized funding based on these receivables."

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*This content was translated by AI.View Original