DLL and AGCO closed DLL 2018-1 for $824.38 million. The securitization transaction is the second for DLL and follows its initial securitization in November 2017 of $501.5 million.

The notes are backed by $896.5 million of loans and leases secured by agricultural equipment originated by AGCO Finance, a joint venture between DLL (51% ownership) and AGCO (49% ownership).

The transaction is made up of $195.0 million class A1 notes, $255.0 million class A2 notes, $250.0 million class A3 notes and $124.38 million class A4 notes. The notes were rated A1+/P1 or AAA/Aaa by Standard & Poor’s and Moody’s, respectively.