Global vendor finance company, DLL has announced the closing of “DLLAD 2023-1”, a US securitisation transaction issuing notes totaling US$850 million. The notes are backed by loans and leases secured with agricultural, golf course and turf equipment.
The transaction is rated F1+/P-1 or AAA/Aaa by Fitch and Moody’s, respectively.
“This is our first Asset Backed Securities (ABS) transaction this year and we are really pleased to see that we were able to attract quite a few new investors who put their trust and confidence in our securitisation platform,” said Chris Morris, US Treasurer for DLL.
Carlo van Kemenade, CEO and Member of the DLL Executive Board added: “We are very happy with the growth of DLL’s investor base, as these kind of securitisation transactions will continue to be a part of DLL’s long-term growth strategy to diversify our US dollar funding base.”