Prestige Financial Services, Inc. has completed its thirteenth and largest rated term securitization, issuing $400,000,000 in securities backed by $414,507,771 in automobile installment receivables. In a transaction led jointly by Wells Fargo Securities and J.P. Morgan Securities, notes were purchased by qualified institutional buyers in a private offering pursuant to Rule 144A of the Securities Act. The securitization closed on Thursday, March 26.

The seven note classes issued by Prestige Auto Receivables Trust 2015-1 carried ratings ranging from A-1+/R-1(h) through BB/BB from Standard & Poor’s and DBRS, respectively, based on several factors including Prestige’s proven track record as a loan originator and servicer. The weighted average rate was 2.08%.

“PART 2015-1 represents yet another successful transaction from Prestige, as evidenced by robust investor participation and attractive pricing levels in a crowded market,” notes Leah Miller, Managing Director at Wells Fargo Securities.

Prestige was founded in 1994 as an affiliate of the Larry H. Miller Group of Companies, which includes the NBA’s Utah Jazz and one of the country’s largest auto dealership networks. Today, Prestige manages a loan portfolio of nearly $900 million and does business with more than 2,000 dealerships in 46 states.

“The strong investor backing we enjoyed on this deal reflects an appreciation of our basic objective to help customers improve their credit and their lives by financing top-quality vehicles,” observes Prestige president Bryant Henrie. “It’s worked for more than two decades, and continued support from our investors and bankers will facilitate these efforts for many years to come.”

All notes included in this transaction having been sold, this announcement of their sale appears as a matter of record only.