Balboa Capital completed a $251 million securitization of equipment lease and loan backed notes, its fourth and largest transaction to date.
Credit Suisse acted as the sole initial purchaser of the notes and the transaction was rated by both DBRS and Moody’s Investors Service. Balboa Capital will use this additional capacity to provide growth capital to small businesses, middle market companies, franchises and equipment vendor businesses throughout the U.S.
“We are pleased to have secured the largest securitization in our company’s history, and to have it rated by two leading credit rating companies,” said Robert Rasmussen, chief operating officer at Balboa Capital. “This demonstrates the strength of our business model and financial performance.”
The securitization comes on the back of strong growth at Balboa Capital. The company has experienced a surge in business this year in each of the channels it serves.
“This new capital will enable us to further support business owners in every industry who need fast, hassle-free capital to grow and expand their operations,” Rasmussen said.
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