Dext Capital announced the successful close of Dext ABS 2025-1, its fifth asset-backed securitization. The $489 million transaction is Dext’s largest to date and raises the company’s lifetime total of securitized assets to over $1 billion. The trade featured six classes of investment-grade notes, including a money market tranche beside two AAA classes, and was rated by Moody’s and S&P.

The proceeds from this transaction will be used for Dext’s ongoing growth initiatives within the essential-use healthcare and technology space.

“Dext ABS 2025-1 represents many significant milestones for us: fifth transaction closed, over $1 billion securitized and our first series of notes with AAA-ratings from Moody’s and S&P. Our story resonates well with investors – they appreciate our targeted approach to the market and our management’s extensive experience in lending. We are excited to continue to elevate our business and to further establish ourselves as a recurring ABS issuer," said Conrad Nilsen, Senior Vice President of Finance for Dext Capital.

BofA Securities acted as Sole Structuring Agent, Truist Securities and Deutsche Bank Securities acted as Lead Bookrunner, and Regions Securities LLC served as co-manager.