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Marlin Business Services closes $201.7M term debt securitization


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Marlin Business Services closes $201.7M term debt securitization

Marlin Business Services Corp. closed a $201.7 million asset-backed notes term securitization by its unit, Marlin Leasing Corp.

The financing will be recorded on its balance sheet as a financing transaction and provides Marlin Business Services with fixed-cost borrowing. The notes were issued in seven classes and carry fixed interest rates ranging from 2.55% to 5.02%. The legal final maturity dates for the notes range from July 22, 2019, to May 20, 2025.

The transaction is the company's first since 2010.