Global vendor finance company DLL closed “DLLAD 2024-1,” the second U.S. securitization transaction this year, issuing notes totaling $650 million. The notes are backed by loans and leases secured with Agricultural, Golf and Turf assets of DLL Finance. The transaction is rated F1+/P-1 or AAA/Aaa by Fitch and Moody’s, respectively.
“This is our second asset backed securities (ABS) transaction this year with again, strong investor interest including new investors,” Chris Morris, U.S. treasurer for DLL, said. “We are happy with the continued investor interest driven by the programmatic issuance of DLL ABS programs.”
“It is always great to see that investors are willing to put their trust and confidence in our securitization platform,” Grégory Raison, chief financial officer and member of the DLL executive board, said. “DLL U.S. securitization transactions will continue to be a part of DLL’s long-term growth strategy to diversify our USD funding base.”
