Dext Capital closed its second asset-based securitization for approximately $150 million.
Kroll Bond Rating Agency rated the securitization (DEXT 2021-1) as investment grade with four classes of investment grade notes: AAA ($114.27 million), AA ($9.93 million), A ($17.71 million) and BBB ($5.96 million). Credit Suisse was the underwriter for the transaction.
“We are very pleased with the continued confidence our ABS investors place in us and the successful market execution of this offering,” Rob Stackhouse, senior vice president of finance and controller for Dext Capital, said. “The market reception was tremendous, evidenced by the high over-subscription rates. This transaction was made possible through the efforts of the quality team at Dext.”
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