FREE SUBSCRIPTION Includes: The Advisor Daily eBlast + Exclusive Content + Professional Network Membership: JOIN NOW LOGIN
Skip Navigation LinksHome / News / Read News


LEAF Closes $336MM Securitization of Leasing Assets

May 06, 2015, 07:09 AM
Filed Under: Industry News

LEAF Commercial Capital announced the closing of a new securitization transaction, LEAF 2015-1, which was completed on April 30, 2015.

Through LEAF 2015-1, LEAF securitized a portfolio of approximately $336 Million of commercial equipment leases and loans through the issuance of equipment contract-backed notes. The transaction is the fourth securitization that LEAF has sponsored since its inception and its largest single issuance to date. The portfolio of leases and loans encompasses a diverse array of equipment types, from office automation, telecommunications solutions, technology and network infrastructure, light industrial and healthcare-related equipment.

Credit Suisse Securities (USA), LLC was the book runner and structuring agent of the notes with Guggenheim Securities, LLC and Wells Fargo Securities, LLC as co-managers. LEAF will continue to be the servicer of the assets. LEAF issued nine fixed rate classes of notes that were rated by Moody's and DBRS. The transaction achieved efficient Triple-A pricing, with a larger proportional size of Triple-A bonds than previously offered. This was a private offering made to qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933, as amended, by LEAF Receivables Funding 10, LLC, a wholly owned subsidiary of LEAF Commercial Capital, Inc.

Miles Herman, President and Chief Operating Officer of LEAF, stated, "LEAF Commercial Capital is pleased with the continued, strong receptivity from our diverse investor base making 2015-1 our largest securitization to date. This successful transaction is an endorsement by investors and rating agencies of the strong and consistent results of our portfolios. This achievement will continue to support LEAF’s strong origination growth this year."

Comments From Our Members

You must be an Equipment Finance Advisor member to post comments. Login or Join Now.