PEAC Solutions Closes First U.S. Securitization Transaction of 2024

PEAC Solutions closed its first asset-backed securitization (ABS) transaction, PEAC Solutions Receivables 2024-1 (PEAC 2024-1), on June 25, 2024.

PEAC 2024-1 issued notes totaling $600 million. The notes are backed by leases and loans predominantly secured by office equipment, commercial and industrial and other construction equipment. This securitization was met with strong investor interest, which builds confidence in PEAC Solutions’ growth strategy and financial health for the future. Fitch and KBRA rated the transaction F1+/AAA and K1+/AAA respectively.

“PEAC has seen tremendous growth since its platform acquisition by HPS Investment Partners in early 2022, including origination growth of more than 250% over the two years before the acquisition,” Mathew Petrick, chief financial officer of PEAC Solutions, said. “We were thrilled to see the strong investor interest in our story and our first asset-backed securitization (ABS) under the PEAC brand for 2024. We will continue to look at the securitization platform as a source to partner with investors to finance our growth.”

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