Direct Capital Corporation said it completed its first securitization of equipment lease backed notes, a $163 million deal called Direct Capital Funding IV LLC 2013-1.

The 144A transaction was privately placed. It offered five classes of notes, which were rated ‘AA’ to ‘BB’ by Standard and Poor’s. DBRS rated the senior notes ‘AAA’. Guggenheim Securities acted as the initial purchaser of the notes.

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