Just before Fourth of July, Lendbuzz announced that it has closed a $266 million securitization collateralized by a pool of auto loans made to obligors and secured by new and used automobiles, light duty trucks, and vans.

In January, Lendbuzz closed a $262 million securitization.

According to a news release, the most recent activity included five classes of notes: Class A-1, Class A-2, Class B, Class C, Class D. Lendbuzz said the notes have been rated by S&P Global Ratings (S&P) and Kroll Bond Rating Agency (KBRA) as K1+/NR, AAA/AA, AA-/AA-, A-/A- and BBB/NR, respectively.

Goldman Sachs & Co. LLC acted as lead bookrunner and structuring agent, with J.P. Morgan Securities, Mizuho, and RBC Capital Markets as joint bookrunners; MUFG and Regions Securities acted as co-managers.

The January securitization included four classes of notes: Class A-1, Class A-2, Class B, Class C. Those notes were rated by S&P Global Ratings (S&P) and Kroll Bond Rating Agency (KBRA) as NR/K1+, AA/AAA, A/AA- and NR/A-, respectively.

That securitization had J.P Morgan Securities LLC acting as lead bookrunner and structuring agent, with Goldman Sachs & Co. LLC, MUFG and RBC Capital Markets as joint bookrunners; and Mizuho and Regions Securities acting as co-managers.

To date, Lendbuzz said it has completed more than $2.1 billion of publicly syndicated asset-backed securitizations and remains committed to growing the program as part of its diverse funding strategy.

Lendbuzz chief financial officer George Sclavos shared his perspectives on both securitizations that generated additional capacity to allow Lendbuzz to continue on its mission to offer fair access to credit for underserved populations.

“We are proud to have closed another successful transaction that deepens our access to diverse funding sources,” Sclavos said. ““We are thrilled to see our ABS program continue to grow with strong execution and a growing, committed investor base.

“Our ability to continue to grow our program is a testament to the strength of our investor base and a powerful testament to our investors’ confidence in the performance of our credit model,” he went on to say.