North Mill Equipment Finance LLC closed a $164 million commercial equipment asset-backed securitization priced at a weighted average duration yield of 3.15%.
The company plans to use the securitization to pay down its higher-priced warehouse lines and further diversify its portfolio. The issuance comprises 10 unique investors and $315 million of orders.
Deutsche Bank Securities Inc. was the structuring agent, book runner and lead manager for the securitization. KeyBanc Capital Markets was the co-manager.
North Mill Equipment Finance is also closing on a $15 million holding company bond issuance with two insurance company investors. Brean Capital LLC is the placement agent for the senior notes.