Sun Life Assurance Company of Canada, Securcor and Blue Bridge Financial announced a private securitization facility for $40 million between Blue Bridge SPV Funding I and Securcor. The facility will be funded by Sun Life, which is the primary life insurance subsidiary of Sun Life Financial.

This securitization facility will enable Blue Bridge Financial to expand its market share and continue the expansion of Sun Life’s and Securcor’s presence in the U.S. equipment finance industry. The facility is backed by commercial equipment loans originated by Blue Bridge Financial.

“Sun Life’s U.S. strategy is focused on originators with experienced management and prudent lending practices. We look forward to a long and mutually beneficial relationship with Blue Bridge,” said Neil Cameron, senior managing director, head of Private Securitization Finance, Sun Life Investment Management, an institutional investment management platform of Sun Life Financial.

Brian Rodd, president and CEO of Securcor, commented, “We are very pleased to bring Blue Bridge on board as we feel they are a very well managed organization and are poised to move to the next level in their development. We are happy to be able to work alongside them as they grow their business.”

Mark DeBacker, CEO of Blue Bridge Financial, commented, “We are excited to announce the closing of our securitization facility with Sun Life and Securcor. This facility represents a watershed event for Blue Bridge Financial, as it allows us to fully migrate to a portfolio lending model, which will provide in-house servicing for all of our business borrowers and origination partners. The scale and economics of this transaction will also provide us an opportunity to expand our product offering and allow for more competitive pricing across our product suite.”