North Mill Equipment Finance (NMEF), an independent commercial equipment lender and lessor headquartered in Norwalk, CT, closed its tenth asset-backed securitization (ABS), NMEF Funding 2025-B (NMEF 2025-B), a $525 million transaction. This marks the company’s second securitization of the year and brings NMEF’s cumulative issuance volume to over $3.1 billion.
“NMEF 2025-B was our largest securitization to date, attracting a deep and diverse investor base, with 37 unique investors participating in the offering,” Mark Bonanno, president and chief revenue officer of NMEF, said. “Notably, the transaction saw the inclusion of 14 first-time investors, reflecting continued institutional confidence in NMEF’s platform and the continued evolution of credit quality and collateral diversification. The transaction was met with strong demand across the capital stack, allowing for tightened spreads compared to both initial price targets and final pricing levels of NMEF 2025-A, which was issued earlier in 2025.”
“This transaction reflects the strategic strides we’ve taken over the last several quarters—broadening our origination sources, integrating our recent acquisition, and expanding our reach in the capital markets,” Mitch Tobak, vice president of corporate development at NMEF, said. “We’re especially encouraged by the volume of new investor interest, which speaks to the depth and durability of our platform as we scale. These outcomes validate our approach of building a balanced portfolio that generates strong risk-adjusted returns across a variety of collateral types.”
