Exeter Finance, a full-service subprime auto lender backed by Blackstone, withdrew its plans for an initial public offering on Friday, citing market conditions. It originally filed in January 2019 with a proposed deal size of $100 million.
The Irving, TX-based company was founded in 2006 and booked $581 million in sales for the 12 months ended September 30, 2018. It had planned to list on the NYSE under the symbol XTF. Citi and Wells Fargo Securities were set to be the joint bookrunners on the deal.
The article Blackstone subprime lender Exeter Finance withdraws $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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