Ascentium Capital Completes Seventh Securitization

Kroll Bond Rating Agency assigned preliminary ratings to six note classes of Ascentium Equipment Receivables 2017-1 Trust. The notes are newly issued asset-backed securities backed by a portfolio of equipment leases and loans.

This transaction is Ascentium Capital’s seventh securitization supported by small and mid-ticket general equipment. The transaction features a payment waterfall, whereby all collections after expenses and interest payments will pay down principal, until the target credit enhancement (10.25%) as a percentage of the current collateral balance is reached.

As of April 1, 2017, the collateral consists of equipment loans and leases totaling approximately $226.1 million. The balance of the collateral is subject to certain eligibility criteria and will be funded during a 90-day period following the closing date and will total approximately $25.2 million. The discounted balancefor the collateral as of April 1, 2017 is based on the projected equipment loan and lease cash flows discounted at a rate of 4.75%.

Like this story? Begin each business day with news you need to know! Click here to register now for our FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
Susie Angelucci
Advertising: 484.459.3016

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.