Dext Capital closed its inaugural securitization of loans and lease contracts. Dext ABS 2020-1 issued four classes of the notes. Kroll Bond Rating Agency’s ratings for Dext ABS 2020-1 include AA- for $97.36 million of Class A notes, A- for $10.61 million of Class B notes, BBB- for $7.60 million of Class C notes and BB- for $8.18 million of Class D notes.

According to Dext, the company’s initial offering was oversubscribed and well received by the market.

“We are proud of our ability to successfully access the ABS market for our inaugural issuance even in the midst of a global pandemic. It is a testament to our fantastic team, continued support from our customers and partners, and a robust underwriting and servicing platform,” Kyin Lok, CEO of Dext Capital, said. “With the team’s hard work and support, we are on track to nearly double 2019 originations while building a well-performing portfolio that allows us to remain an active lender and provide uninterrupted access to affordable capital for underserved medical providers.”

Dext is an independent lessor for the healthcare industry.