Capteris, the large ticket equipment finance platform, closed its second asset-backed securitization totaling $437 million. The transaction was well received by investors as available tranches were oversubscribed, with participation from 17 investors, including 11 new to the investor pool. The transaction was led by BofA Securities, who served as co-structuring lead and lead bookrunner, along with Redding Ridge Advisors as co-structuring lead, Apollo Global Securities and Truist Securities as joint lead joint bookrunners, and RBC Capital Markets as co-manager. The issuance was rated by Moody’s and DBRS Morningstar.
“Our second ABS highlights the continued evolution of our platform, the quality of our portfolio, and the level of confidence in our overall business strategy. Even with backdrop of the Mid-East conflict, rising oil prices and inconsistent treasury rates, our ABS was oversubscribed and saw price tightening despite these unprecedented market events. This is a direct reflection of our amazing team and our best-in-class execution,” Brian Nethercott, chief financial officer and chief operating officer of Capteris, said. “In a relatively crowded competitive landscape, Capteris continues to show how we are a differentiated player in equipment finance, and it was evident by our deal execution, overall structure and strong investor appetite.”
