"Completing this transaction in the current economic environment is a testament to Foundation's ... consistently strong results."
WESTON, Wis. (PRWEB) June 12, 2020
Foundation Finance Company LLC (“Foundation”) has closed its fourth securitization transaction, issuing $225 million in asset-backed securities collateralized by a pool of retail installment sale contracts and agreements primarily used for home improvements. Foundation has issued more than $1 billion in home improvement backed notes since its first securitization in 2016.
Chief Executive Officer Alex Mladek said, “Completing this transaction in the current economic environment, with strong investor demand, is a testament to Foundation’s portfolio performance, credit standards and consistently strong results. It reinforces our position as a market leader in the point-of-sale home improvement financing space.”
Goldman Sachs & Co. LLC served as sole structuring advisor and together with Guggenheim Securities served as joint book-running managers on the transaction.
About Foundation Finance Company LLC
Foundation was founded in 2012 through the partnership of an experienced management team and Garrison Investment Group. Foundation specializes in point-of-sale home improvement financing programs across the credit spectrum, including revolving lines of credit, installment loans and promotional financing. Foundation operates in all 50 states and serves more than 7,000 home improvement contractors and hundreds of thousands of homeowners nationwide. For more information, visit foundationfinance.com