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Ascentium Capital Announces $330MM Securitization

March 10, 2015, 07:00 AM
Filed Under: Industry News

Ascentium Capital issued a $330 million small ticket equipment securitization of Ascentium Equipment Receivables LLC, Series 2015-1. This represents the company’s third securitization since 2012. The underwriters on this transaction were Credit Suisse, Bank of America Merrill Lynch, and JP Morgan.

“We are pleased with our market execution and the confidence that our ABS investors place in us.  The Aaa and AAA ratings from Moody’s and DBRS on our senior class of notes help validate our successful business model,” remarked Tom Depping, Chief Executive Officer at Ascentium Capital. The ratings were based on several critical factors including the strong financial condition of the company, consistent portfolio performance for over ten years, and the company’s efficiency-based finance model.

Evan Wilkoff, Executive Vice President of Capital Markets, comments, “The market receptiveness of this transaction is a reflection of our improved credit enhancement, consistent collateral performance, and portfolio stability.  We are very proud of what we have accomplished at Ascentium and look forward to continuing our diversified funding strategy.”  

As a direct lender, Ascentium Capital specializes in providing business financing, leasing, and loans for equipment manufacturers and distributors as well as direct to businesses nationwide. The company is backed by the strength of leading private investment firms Vulcan Capital and LKCM Capital Group, LLC. Ascentium Capital has obtained the ranking as the fifth largest private-independent finance company by volume in the United States.

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