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DLL Closes Inaugural U.S. Securitization for $501.5MM

November 17, 2017, 07:15 AM
Filed Under: Industry News

DLL announced the closing of its inaugural securitization – DLL Securitization Trust 2017-A for $501.5 million.

“DLL’s transaction was very well received in the market,” said DLL U.S. Chief Financial Officer Peter Mullen. “The deal was oversubscribed and traded tight to guidance across a deep investor base. This kind of demand is promising for future securitization transactions.”

The securitization is backed by a portfolio of agricultural equipment loans and leases in the United States. The transaction includes $120 million class A1 notes, $165 million class A2 notes, $155 million class A3 notes and $61.50 million class A4 notes. The notes were rated A1+/P1 or AAA / Aaa by Standard & Poor’s and Moody’s, respectively.

“This securitization transaction is part of DLL’s long-term growth strategy to diversify our funding base and liquidity risk,” said Marc Dierckx, DLL Chief Financial Officer and member of the Executive Board.

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