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
In the latest variation on “April Fool,” the Hague Convention on the Law Applicable to Certain Rights in Respect of Securities Held with an Intermediary will become effective in the U.S. on April 1, 2017. In one of its parting... read more
MONITOR: What was the most significant challenge you and your team faced going into 2016? BACCARO: SMBs tend to be reactionary with respect to capital investment and economic trends. At the commencement of last year, we were still being challenged,... read more