Balboa Capital announced that it has completed a $152 million securitization of equipment lease and loan backed notes. Balboa Capital will use this additional capacity to fund the company’s diverse portfolio of financing products.
The placement agent of notes was Guggenheim Securities, and the transaction was rated by both Standard and Poor’s and DBRS. David Chiurrazi, chief financial officer at Balboa Capital, said, “We are extremely pleased with the positive reception that we received from institutional investors, and with the favorable ratings provided by the leading credit rating agencies.”
“This is Balboa Capital’s first securitization since 2008, and it comes at the perfect time,” Chiurazzi said. “Balboa Capital is experiencing rapid growth in each of the channels we serve, and our new securitization enables us to continue meeting the financing demands of small business owners, middle-market companies, franchise owners and equipment vendors throughout the United States.”
No tags available
Big data, mobile technology, fintech and social media — the technology trends shaping equipment leasing and asset finance today — were unheard of in 1992, the year that leasing industry executives John C. Deane, Norm Chapman, John Giddens and Bill... read more
The lease accounting change project began with the objective of converging on a worldwide set of rules. When the FASB and IASB took different views on whether all leases were the same for lessee accounting, the idea of convergence was... read more