Turners to sell $150 mln of its loans to investors via securitisation

Wed, 25 Jan 2017

By Edwin Mitson Jan. 25 (BusinessDesk) - Turners, the country's largest seller of vehicles, is to sell stakes in its loan book in a deal worth an initial $150 million. As well as selling cars and trucks and lending people money to buy them, Turners owns Dorchester Finance, Oxford Finance and Southern Finance, which loan money to individuals and businesses. The process is known as securitisation and sees the loan originator pool the value of the loans to create a fund. Investors buy stakes or tranches in the fund, and are entitled to...

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