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Axis Capital Announces $201 Million Term Securitization

October 28, 2016, 07:08 AM
Filed Under: Industry News

Axis Capital, Inc. (Axis), announced the closing of its fourth term securitization, issuing six classes of equipment lease and loan backed notes totaling $201,232,000.  This term securitization will enable Axis to continue to expand its market share while growing its presence in the North American equipment finance industry.

“Axis is firmly focused on our strategy of expanding originations through vendor and customer based relationships,” said Axis Chairman and CEO Mostafiz ShahMohammed.

“A stable and dependable securitization platform is critical to an independent leasing business and we look forward to using our latest securitization to further expand our market share,” added Kalyan Makam, Axis Board Member and Head of Capital Markets for Amur Finance Company and its subsidiaries.

The $166 million senior class of notes received an AAA (sf) rating from both DBRS and Kroll Bond Rating Agency. Wells Fargo Securities, LLC served as sole structuring agent and bookrunner.

“We are excited to announce the successful closing of our $201 million securitization,” Shauna Heckathorn, Axis CFO stated. “This is Axis’ fourth successful term issuance, which is a clear indication to the capital markets that we are a committed and reliable issuer, and we thank our investors for their continued support.”

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