Capteris LLC., a large ticket provider of equipment leases and loans, announced the closing of its inaugural asset backed securitization, CPTRS2024-1. The $255 million bond was rated by Morningstar DBRS with Truist Securities serving as Structuring Agent and Joint Bookrunner along with Apollo Global Securities and BofA Securities.
CPTRS 2024-1 transaction was collateralized by medium and large ticket contracts with pledged leases and loans associated with critical use, revenue-producing assets across a variety of industries. The portfolio consisted of 40 different obligors and 151 contracts with an aggregate securitization value of $290 million. The oversubscribed issuance had broad capital markets interest and resulted in the addition of 10 new investors. “The level of investor interest and positive market execution is a testament to our outstanding team, our high-quality portfolio, and our strong ownership support,” said Eric Dusch, President and CEO of Capteris.
With its growth focus and expanding market presence, Capteris plans to be a regular issuer in the securitization market going forward. “For our first issuance, we are excited about the deal execution and market receptivity to the Capteris story. We are very thankful for the investor community, our banking partners, DBRS, and the various third-party providers who helped in our successful inaugural issuance,” added Brian Nethercott, CFO and COO of Capteris.
Capteris is a provider of large ticket equipment finance solutions targeting the midmarket, large corporate, and sponsor finance segments. The company is supported with backing via funds managed by Apollo Global Management coupled with investments from MidCap Financial and Wheels, Inc. With strong financial backing, flexible custom solutions, and deep domain expertise, Capteris is an attractive alternative to traditional equipment finance providers. From leases and loans to refinancing and asset-backed debt solutions, Capteris offers competitive products and attractive structures to meet the needs of their individual clients.