Senior class notes receive A- rating from Morningstar
MINNEAPOLIS--(BUSINESS WIRE)--Apr. 28, 2016--
Piper
Jaffray Companies (NYSE:PJC), a leading investment bank and asset
management firm, is pleased to announce ThunderRoad Financial, LLC
through its issuer affiliate, ThunderRoad Motorcycle Trust 2016-1,
issued its Series 2016-1 Asset-Backed Notes totaling $59.72 million,
consisting of:
-
$47,780,000 senior Class A Notes carrying an A- rating from
Morningstar Credit Ratings, and
-
$11,940,000 of subordinate, unrated Class B Notes.
Based in Reno, Nevada, ThunderRoad is a specialty motorcycle lender
established in 2014 that works closely with a network of dealers in more
than 30 states to provide financing to customers purchasing motorcycles,
UTVs, ATVs, and other power sports equipment. The company finances all
major American, European, and Japanese makes, and has purchased more
than $70 million in installment sales contracts in its first two years
of activity.
Piper Jaffray served as sole placement agent for the Series 2016-1
transaction after having arranged a $100 million warehouse facility for
the company in 2015.
“We are pleased to have successfully placed ThunderRoad’s first
motorcycle asset-backed security. They are an integral part of our
structured finance initiative focusing on small to middle market
specialty finance companies. Our work with ThunderRoad over the past
year exemplifies the varied ways we can help companies access the
financing they need to grow their business. We look forward to
continuing our partnership with them,” said Brad
Winges, Piper Jaffray head of fixed income services.
“While we have some of the most experienced powersports underwriters in
the business, at only two years old, ThunderRoad is very pleased to have
worked with Piper Jaffray on both the warehouse line in 2015 and our
first rated securitization. This is an exciting step for our company as
few firms are willing to work with younger start-up companies, let alone
dedicate the substantial resources Piper Jaffray provided to us,” said
Donal Hummer Jr., president and CEO of ThunderRoad Financial, LLC.
About Piper Jaffray
Piper Jaffray Companies (NYSE: PJC) is a
leading, international investment bank and asset management firm.
Securities brokerage and investment banking services are offered in the
U.S. through Piper Jaffray & Co., member SIPC and FINRA; in Europe
through Piper Jaffray Ltd., authorized and regulated by the U.K.
Financial Conduct Authority and Simmons & Company International Limited,
authorized and regulated by the U.K. Financial Conduct Authority and the
Dubai Financial Services Authority; in Hong Kong through Piper Jaffray
Hong Kong Limited, authorized and regulated by the Securities and
Futures Commission. Asset management products and services are offered
through four separate investment advisory affiliates―U.S. Securities and
Exchange Commission (SEC) registered Advisory Research, Inc., Piper
Jaffray Investment Management LLC and PJC Capital Partners LLC; and
Guernsey-based Parallel General Partners Limited, authorized and
regulated by the Guernsey Financial Services Commission.
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solicitation of an offer to buy these securities, and there shall not be
any offer or sale of these securities in any state in which such offer,
solicitation or sale would be unlawful. This release contains
forward-looking statements including, but not limited to, statements
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© 2016 Piper Jaffray Companies, 800 Nicollet Mall, Suite 1000,
Minneapolis, Minnesota 55402-7036
View source version on businesswire.com: http://www.businesswire.com/news/home/20160428006784/en/
Source: Piper Jaffray Companies
Piper Jaffray Companies
Pamela Steensland, 612-303-8185
analystmediarelations@pjc.com
