Arra Finance Closes Inaugural Auto ABS Transaction
Arra’s co-sponsored issuance establishes foundation for auto ABS program
CARROLTON, Texas, June 23, 2026 (GLOBE NEWSWIRE) -- Arra Finance, LLC (“Arra”), a nonprime auto finance company, today announced the successful closing of its inaugural auto receivables asset-backed securitization (“ABS”) transaction. The offering marks a key milestone in Arra’s strategy, further diversifying the company’s funding base and providing additional capital markets capacity to support a robust ABS issuance program.
“In less than two years, Arra has scaled into a credible, disciplined participant in the auto ABS market,” said Steven Lackowski, Chief Financial Officer of Arra Finance. “Today’s success validates the capital markets thesis we have held since day one, accelerated by our acquisition of Crescent Bank’s auto finance assets and now accomplished with our first rated transaction.”
The 4(a)(2) transaction was co-sponsored by a fund managed by Obra Capital, with Goldman Sachs serving as sole structuring agent. The AA through BB-rated private offering was evaluated by a top U.S. ratings agency focused on nonprime auto finance and received strong interest from select large institutional investors.
Mr. Lackowski continued: “The validation we received from investors and ratings agencies alike reflects the strength of our underlying auto receivables portfolio, the underwriting diligence that has driven the development of the Arra platform since launch and the quality of our high touch servicing for over $700 million in auto receivables. We are already looking forward to a more widely syndicated issuance as we continue scaling our operations and bringing attractive opportunities to market.”
“This is a true landmark moment for Arra,” added Kenn Wardle, Chief Executive Officer of Arra Finance. “This achievement directly reflects our team’s cross-platform efforts to grow our portfolio, consistently deliver quality pricing to dealers and consumers and implement sound servicing practices that maintain long-term performance. With strong momentum, we look forward to capitalizing on the opportunities ahead.”
“Obra is pleased to have one of its managed funds co-sponsor Arra’s first auto ABS issuance,” said Blair Wallace, President and CEO of Obra Capital. “Arra continues to demonstrate market leadership in nonprime auto finance, and we believe it is well-positioned to continue creating long-term value for its partners and investors as it enters this next stage of business development.”
About Arra Finance
Arra Finance is a nonprime indirect auto finance company providing fast, simplified solutions and options for dealers. The company’s cutting-edge auto finance platform delivers auto financing solutions for used car buyers at franchise and independent dealerships across 40 states. With a scalable origination system, industry leading application turnaround time and an expansive data warehouse, Arra is the partner of choice for dealers looking to facilitate sales and grow their businesses. Arra is a wholly owned subsidiary of Obra Capital. For more information about Arra Finance, please visit www.arrafinance.com.
About Obra Capital
Obra is a specialized alternative asset management firm that provides investment products and solutions across insurance and credit verticals. The firm aims to generate long-term value and returns for investors through a variety of funds and separate accounts. With capabilities in investing, originating, structuring, and servicing, Obra strives to provide differentiated investment opportunities for investors globally. As of May 31, 2026, the estimated unaudited amount of assets under management across Obra’s registered investment advisors, was approximately $7.4 billion. For more information about Obra and its registered investment advisors, please visit www.obra.com.
Media Contacts
Dan Gagnier / Caitlin McNamara
Gagnier Communications
Obra@gagnierfc.com
646-569-5897
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