Pawnee Leasing Closes $356MM Marketed Securitization



Pawnee Leasing, a subsidiary of Chesswood Group, closed its $356 million marketed U.S. securitization of receivables. The company will use proceeds from the securitization to repay its warehouse facility and more than $140 million of Chesswood’s corporate revolving credit facility.

“This transaction substantially improves Chesswood’s financial position by increasing liquidity and providing us with an approximate 100 bps improvement in our cost-of-funds. The success of this asset-backed securitization is evidence of Pawnee’s high-quality portfolio and further demonstrates Chesswood’s ability to manage treasury and funding resources, allowing us to continue to grow the business,” Ryan Marr, president and CEO of Chesswood Group, said.


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