DLL closed its inaugural U.S. securitization — DLL Securitization Trust 2017-A — for $501.5M.

“DLL’s transaction was very well received in the market,” said Peter Mullen, DLL U.S. CFO. “The deal was oversubscribed and traded tight to guidance across a deep investor base. This kind of demand is promising for future securitization transactions.”

The securitization is backed by a portfolio of agricultural equipment loans and leases in the U.S. The transaction includes $120 million class A1 notes, $165 million class A2 notes, $155 million class A3 notes and $61.50 million class A4 notes. The notes were rated A1+/P1 or AAA/Aaa by Standard & Poor’s and Moody’s, respectively.

“This securitization transaction is part of DLL’s long-term growth strategy to diversify our funding base and liquidity risk,” said Marc Dierckx, DLL CFO and member of the executive board.