DLL closed DLLST 2022-1, a U.S. securitization transaction issuing notes totaling $837 million. The notes are backed by loans and leases secured by office equipment and technology solutions. The transaction is DLL’s 10th U.S. securitization transaction.

Fitch Ratings rated the transaction F1+/P-1 and Moody’s rated it AAA/Aaa.

“Despite volatile market conditions, we are very pleased to see that both investors who already know us and new investors put their trust and confidence in our small-ticket securitization platform,” Chris Morris, U.S. treasurer for DLL, said. “Last year, DLL was the largest equipment issuer, and this is our first asset-backed securities (ABS) transaction for 2022.”

“Our securitization transactions will continue to be a part of DLL’s long-term growth strategy to diversify our funding base and liquidity risk,” Marc Dierckx, CFO and member of the executive board at DLL, said. “We are really happy with the effective programmatic issuance since starting our securitization program in 2017 and the continued growth of our investor base.”