Leaf Financial has completed a small-ticket mixed equipment issue.
LEAF 2011-1 was a 144A $96 million offering that was backed by a mix of assets comprising 70% secured commercial business loans and 30% leases, backed by equipment in the healthcare, telecommunications, restaurant and automotive sectors.
Guggenheim Securities was the arranger of the notes and LEAF will continue to be the servicer for the assets.
This latest deal brings LEAF's total securitizations to $700 million since May 2010.
With this securitization all of the short-term debt of LEAF 4, which, at one point, totaled roughly $450 million, has now been match funded with long-term debt and as a result will no longer rely strictly on short-term credit warehouse facilities.
"As the securitization marketplace continues to show increased strength, a number of equipment leasing and finance companies are accessing this channel as a means to diversify their capital strategy," said Miles Herman, president and COO of LEAF.