Axis Capital closed its fourth term securitization, issuing six classes of equipment lease and loan backed notes totaling just over $201 million.
This term securitization will enable Axis to continue to expand its market share while growing its presence in the North American equipment finance industry.
“Axis is firmly focused on our strategy of expanding originations through vendor and customer based relationships,” said Axis Chairman and CEO Mostafiz ShahMohammed.
The $166 million senior class of notes received an AAA (sf) rating from both DBRS and Kroll Bond Rating Agency. Wells Fargo Securities served as sole structuring agent and bookrunner.
“We are excited to announce the successful closing of our $201 million securitization,” said Shauna Heckathorn, Axis CFO. “This is Axis’ fourth successful term issuance, which is a clear indication to the capital markets that we are a committed and reliable issuer, and we thank our investors for their continued support.”
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