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Amur EF Closes Sixth Term Securitization Totaling $250.9MM

October 18, 2018, 07:25 AM
Filed Under: Industry News

Amur Equipment Finance, Inc. (AmurEF) announced the completion of its sixth term securitization and second securitization this year. A total of $250,944,000 in rated securities secured by equipment leases and loans originated by AmurEF were issued, representing a 27 percent increase over AmurEF’s February securitization, with $239,703,000 receiving an investment grade rating from DBRS.

KeyBanc Capital Markets served as structuring agent, bookrunner and lead manager; The Williams Group served as co-manager.

“We are very excited about the number of repeat and new investors that participated in our second securitization this year – all classes of notes were several times oversubscribed. This high level of interest validates the investments that we have made in the company over the last several years and positions us to continue our strong and sensible growth trajectory,” said Mostafiz ShahMohammed, AmurEF Chief Executive Officer and Amur Finance Company, Inc. Chairman and Founder.

The second securitization of 2018 was made possible by AmurEF’s very strong 2018 originations growth; its monthly origination volume is averaging over $30 million through the first three quarters of 2018, a 70 percent increase from 2017.

“Thanks to the investments we have made across our platform, we’ve been able to seamlessly process our increased volume without any adjustment to our operational processes. We are now routinely processing over 2,000 applications a month, while still maintaining our diligent credit and underwriting standards. Even better, we have been able to do this while maintaining our spread in the face of rising rates,” stated Kalyan Makam, AmurEF Board Member and Executive Vice President of Capital Markets for Amur Finance Company.

In total, AmurEF has issued over $1 billion in secured notes across six securitizations since 2012.

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