Wayne, PA, August 2, 2023 – Leading global vendor finance company, DLL announced the closing of “DLLAA 2023-1”, a U.S. securitization transaction, issuing notes totaling USD 1 billion. The notes are backed by loans and leases secured with new and used agricultural equipment originated by AGCO Finance, a joint venture between DLL (51% ownership) and AGCO (49% ownership).
The transaction is rated F1+/P-1 or AAA/Aaa by Fitch and Moody’s, respectively.
“This is our third Asset Backed Securitization (ABS) transaction this year. The number of investors compares well to the last successful DLLAA transaction done in 2021. The strong investor demand reflects the continued interest in DLL ABS programs.” said Chris Morris, U.S. Treasurer for DLL.
Carlo van Kemenade, CEO and Chairman of the DLL Executive Board added: “We are happy with the interest of both known and new investors who put their trust and confidence in our securitization platform. As we have indicated before, U.S. securitization transactions will continue to be a part of DLL’s long-term growth strategy to diversify our USD funding base.”
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About DLL
DLL is a global asset finance company for equipment and technology with a managed portfolio of more than EUR 40 billion. Founded in 1969 and headquartered in Eindhoven, the Netherlands, DLL provides financial solutions to the Agriculture, Food, Healthcare, Clean Technology, Construction, Transportation, Industrial, Office Equipment and Technology industries in more than 25 countries. DLL partners with equipment manufacturers, dealers and distributors, as well as end-customers on a direct basis, to enable businesses to more easily access equipment, technology and software. The company also delivers insights and advice to partners and customers that drive smarter and more economical methods of use. DLL combines customer focus with deep industry knowledge to deliver sustainable solutions for the complete asset life cycle, including commercial finance, retail finance and used equipment finance. DLL is a wholly owned subsidiary of Rabobank Group. To learn more about DLL, visit www.dllgroup.com.