Verdant Commercial Capital closed its inaugural term securitization, Verdant Receivables 2022-1. The transaction was privately issued to an insurance company. The bonds are backed by a portfolio of equipment leases and loans collateralized by primarily material handling equipment, vocational trucks and other industrial and manufacturing equipment with an average original ticket size of approximately $130,000.

“Our initial term securitization marks an important milestone for Verdant,” Robert Moskovitz, chief financial officer of Verdant, said. “It opens the wider equipment asset-backed securities market as a key financing tool to help Verdant grow, and ultimately allows Verdant’s customers to sell more equipment.”

Wells Fargo Securities acted as structuring and placement agent for this inaugural securitization.