DLL, a vendor finance company, and AGCO, a global firm in the design, manufacture and distribution of agricultural solutions, announced the closing of DLL 2018-1 for $824.38 million.

The notes are backed by $896.5 million of loans and leases secured by agricultural equipment originated by AGCO Finance, a joint venture between DLL (51 percent ownership) and AGCO (49 percent ownership).

The transaction includes $195 million class A1 notes, $255 million class A2 notes, $250 million class A3 notes and $124.38 million class A4 notes. The notes were rated A1+/P1 or AAA / Aaa by Standard & Poor’s and Moody’s, respectively.

The transaction follows DLL's successful initial securitization in November 2017, of $501.5 million.