Equify Financial Closes Inaugural Securitization at $157.991MM

Equify Financial closed its inaugural securitization, EQFY 2023-1, the total value of which reached $157.991 million in large-ticket equipment notes. ATLAS SP Partners served as the lead manager and structuring agent for the transaction.

Through the guidance of ATLAS SP Partners, Equify Financial collateralized asset-backed structured finance loans with the issuance of three classes. These notes, classified as Class A (AA rating), Class B (A rating) and Class C (BBB rating), received favorable ratings from DBRS Morningstar. The senior class of notes in EQFY 2023-1 received an AA rating from DBRS Morningstar.

“We are proud to support Equify Financial’s inaugural securitization, which will provide the company’s customers with more efficient access to financing for mid and large-ticket equipment to enable their growth,” Thomas Pai, head of auto and equipment origination at ATLAS SP Partners, said. “We have deep experience helping issuers like Equify go to market for the first time, and we look forward to continuing to partner with the company to deliver capital solutions to advance its business objectives.”

“Our esteemed banking and financial partners, who provide vital finance options through our warehouse line and securitized bonds, are integral to Equify’s success. Their unwavering support enables us to deliver value to our customers, create opportunities for our shareholders and strengthen our position in the market,” Justin Wilks, CEO of Equify Financial, said. “Furthermore, I’d like to emphasize that our recent success in achieving an AA rating for our senior tranche bond underscores the trust and confidence that our banking and financial partners have placed in Equify. This rating reflects our shared commitment to maintaining the highest standards of financial stability and security in our industry.”

“We are very pleased to have achieved such a milestone – the first securitization for our company,” Kent Hammett, executive vice president of Equify Financial, said. “This supports the aggressive growth plans of Equify Financial, and we are grateful for the opportunity to have presented this investment to the financial markets. On behalf of the executive team, we thank the internal Equify team and our external partners who made major contributions to this achievement.”

“This is a great achievement for every member of the Equify team,” Michael Babb, general counsel for Equify Financial, said. “A tremendous amount of work went into making our first securitization an enormous success, and we couldn’t be more grateful to all of our team members and our partners who helped make this possible.”

Bob Rinaldi of Rinaldi Advisory Services assisted the Equify Financial team in this effort.

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