Dakota Financial Closes Private Placement of $30MM of Senior Unsecured Notes

Dakota Financial closed a private placement of $30 million aggregate principal amount of senior unsecured notes. Dakota intends to use the capital to pay down existing senior secured liabilities. In addition, the company received an A rating from Egan-Jones Rating Service on this transaction.

“Enhancing our liquidity profile in the marketplace with the notes offering is a true milestone for Dakota as we continue to grow and mature,” Michael Green, founder and chairman of Dakota Financial, said. “The positive market reception and underlying rating are nice validation to our portfolio performance and business model.”

Headquartered in Los Angeles, Dakota Financial is an equipment leasing company providing funding solutions for the purchase of heavy-duty trucks, trailers and construction equipment for customers that have prior bankruptcies, tax liens, judgements, repossessions or slow pays.

Piper Sandler served as the sole placement agent for this offering. Piper Sandler has acted as a placement agent, sole underwriter or bookrunner on 76 debt capital markets transactions on behalf of broker-dealer, specialty finance, insurance, asset manager and real estate companies since 2017.

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