DLL Closes Seventh U.S. Securitization Transaction at $1.0 Billion

May 5, 2021

Press

Wayne, PA, May 5, 2021 – Leading global vendor finance company, DLL, and AGCO, a global leader in the design, manufacture and distribution of agricultural equipment and solutions, announced the closing of “DLLAA 2021-1”, a U.S. securitization transaction issuing notes totaling $1.0 billion. The notes are backed by loans and leases secured with 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 Ratings and Moody’s, respectively.

“This transaction reflects DLL’s commitment to the U.S. ABS (Asset Backed Securities) market. We are very pleased with the participation of the many new investors who have put trust and confidence in our portfolio”, said Chris Morris, US Treasurer at DLL.

Marc Dierckx, DLL Chief Financial Officer and member of the Executive Board adds: “I am proud of our team, who worked very hard to complete this transaction. It represents a real restart of our securitization strategy, with which we aim to diversify our funding base. It also reflects the promising and continued reemergence of the U.S. ABS market since the start of the Coronavirus pandemic.”

Annebelle Wijnen

Regional Communications Manager EurAsia

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