Verdant Commercial Capital, LLC, one of the nation’s largest independent equipment finance companies, announces the closing of its inaugural term securitization, Verdant Receivables 2022-1. Verdant provides sales financing by partnering with sellers of capital equipment and computer software.
The transaction was privately issued to a major insurance company. The bonds are backed by a diverse portfolio of equipment lease 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,” said Verdant Chief Financial Officer Robert Moskovitz. “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.