Channel, a provider of equipment financing and working capital solutions, closed its sixth securitization and fourth working capital securitization — a $125 million issuance of asset-backed notes, secured by a diverse portfolio of small business loans and advances spanning multiple industries.

Kroll Bond Rating Agency (KBRA) rated all four classes of notes: AA (sf), A (sf), BBB (sf) and BB (sf). Truist Securities served as the structuring agent and joint book-running manager, and Guggenheim Securities served as a joint book-running manager. The completion of the transaction has strengthened existing investor connections and attracted seven new investors.

“Channel is a clear leader in small business lending, committed to both Partners and borrowers,” Mike McConnell, vice president of treasury and capital markets at Channel, said. “The market acceptance and efficient pricing reflects the strong support and confidence our investors have in us.”

“We are immensely proud of our team’s continued success in identifying and originating high-quality working capital assets at attractive pricing,” Eli Sethre, chief financial officer at Channel, said. “This accomplishment reflects not only our collective expertise but also showcases our track record of consistent and predictable balance sheet credit performance.”