Capteris, a large-ticket provider of equipment leases and loans, closed its inaugural asset-backed securitization, CPTRS2024-1. The $255 million bond and was rated by Morningstar DBRS with Truist Securities serving as structuring agent and joint bookrunner along with Apollo Global Securities and BofA Securities.
CPTRS 2024-1 was collateralized by medium- and large-ticket contracts with pledged leases and loans associated with critical use, revenue-producing assets across a variety of industries. The portfolio consisted of 40 different obligors and 151 contracts with an aggregate securitization value of $290 million. The oversubscribed issuance had broad capital markets interest and resulted in the addition of 10 new investors.
“The level of investor interest and positive market execution is a testament to our outstanding team, our high-quality portfolio and our strong ownership support,” Eric Dusch, president and CEO of Capteris, said.
“For our first issuance, we are excited about the deal execution and market receptivity to the Capteris story,” Brian Nethercott, chief financial officer and chief operating officer of Capteris. “We are very thankful for the investor community, our banking partners, DBRS and the various third-party providers who helped in our successful inaugural issuance.”
