New innovative £300m partnership between Blue Motor Finance and global leader in financial services

Last week, Blue Motor Finance (Blue) entered into a partnership with one of the world's premier investment banks, to finance up to £300m of new used car loans from its dealer network. The deal includes an innovative structure for pre-funding these loans going forward. It is a remarkable achievement by both teams in this COVID-19 impacted environment.

Blue continues to deliver very attractive investment opportunities characterised by loan portfolios with relatively low average loan sizes, low term lengths, diversity in originations and customer base, and good security and predictable low default rates. Blue's long term consistency and prudency in credit risk policy has supported this investment and our ongoing performance.

Tiku Patel, CEO of Blue Motor Finance commented "In these unprecedented times, we are delighted to be adding to our roster of blue chip partners. In particular, we are pleased with the confidence that banks and investors are continuing to show in our ability to carefully manage credit risk and deliver continued predictable performance in the current uncertain environment."

Stuart Williams, CFO of Blue Motor Finance commented "We have embraced technology, data and analytics to build a flexible funding platform to support a range of financing solutions and partners. Our ability to continue to innovate with partners with the same mind set is crucial to supporting our growth. We are building a business for the long term and we envisage growing this new partnership as we continue to develop and grow Blue."