Leading global vendor finance company, DLL, announces the closing of DLL 2019-2 ABS (Asset Backed Securities) securitization transaction in the United States for $443 Million. The transaction is an inaugural securitization sponsored by Mahindra Finance USA LLC, a joint venture between De Lage Landen Financial Services, Inc. and Mahindra & Mahindra Financial Services Limited. Mahindra Finance USA provides equipment finance solutions to facilitate the sale of Mahindra branded equipment primarily focused on agricultural equipment.
This is the sixth ABS transaction (and fifth in United States) for DLL since November 2017 totaling over $3.7 Billion. This securitization is backed primarily by a portfolio less than <100 horsepower tractors and related attachments in the United States. The transaction included only AAA notes rated A1+/P1 or AAA / Aaa by Standard & Poor’s and Moody’s, respectively.