NextGear Capital recently completed the sale of $433 million privately placed notes, providing the company with additional capital and operating flexibility to support the rapid growth of its dealer finance business.

Officials highlighted this securitization comes less than a year after the NextGear Capital’s inaugural bond issue last November when the company secured a $433 million bond securitization.

“NextGear Capital is extremely pleased at the bond market’s receptivity to our second transaction, following our inaugural issue last November," said David Horan, chief financial officer of NextGear Capital, which is one of the sponsors of Used Car Week, the industry’s leading series of conferences being held from Nov. 16-20 at the Phoenician in Scottsdale, Ariz.

“This securitization supports our company's rapid growth as we continue to position both ourselves and Cox Automotive as the industry leader when it comes to how the world buys, sells and owns cars,” Horan continued.

“As NextGear Capital rises to meet market demand, we will look to the bond markets for capital to complement the funding from our strong bank group,” he went on to say.