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Dext Capital Announces Successful Close of Fourth ABS Securitization

November 29, 2023, 07:20 AM
Filed Under: Finance News

Dext Capital, a lender in healthcare equipment finance, announced the successful closing of its fourth asset-backed securitization. The $232 million trade was comprised of four investment-grade notes including a money market tranche and a AAA class, rated by Moody’s and KBRA.

The well-oversubscribed transaction had 21 unique investors, 11 of which were first-time participants in a securitization issued by Dext Capital.

Senior Vice President of Finance Conrad Nilsen said, “Dext’s disciplined approach to origination and servicing practices resonates well with investors. As a repeat issuer, we’re committed to advancing our ABS platform, establishing long-term relationships with investors, and frequently coming to market with new trades.” To date, Dext’s four securitizations have not experienced any net losses.

Proceeds from this securitization will support Dext Capital's ongoing growth by enabling the company to expand its relationships with vendors and strategic customers in targeted markets that are increasingly underserved by traditional bank lenders.

Truist Securities acted as Sole Structuring Agent and Lead Bookrunner on this transaction. BofA Securities was Lead Bookrunner, and Regions Securities served as Co-Manager.

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