Dext Capital Closes Fourth ABS Transaction

Dext Capital closed its fourth asset-backed securitization. The $232 million trade was comprised of four investment-grade notes, including a money market tranche and a AAA class, rated by Moody’s and Kroll Bond Rating Agency. The well-oversubscribed transaction had 21 unique investors, 11 of which were first-time participants in a securitization issued by Dext Capital.

“Dext’s disciplined approach to origination and servicing practices resonates well with investors,” Conrad Nilsen, senior vice president of finance at Dext Capital, said. “As a repeat issuer, we’re committed to advancing our ABS platform, establishing long-term relationships with investors and frequently coming to market with new trades.”

To date, Dext Capital’s four securitizations have not experienced any net losses.

Proceeds from this most recent securitization will support Dext Capital’s ongoing growth by enabling the company to expand its relationships with vendors and customers in targeted markets that are increasingly underserved by traditional bank lenders.

Truist Securities acted as sole structuring agent and lead bookrunner on this transaction. BofA Securities was lead bookrunner, and Regions Securities served as co-manager.

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
[email protected]
Susie Angelucci
Advertising: 484.459.3016
[email protected]

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.