Beequip Equipment Finance finalizes $576M ABS
Deal marks Beequip's first ABS transaction
Beequip Equipment Finance has priced its first asset-backed securitization, a 500 million euro ($576 million) deal backed by leases for cranes, containers, maritime, construction and road transport equipment.
The transaction will enable the Dutch lender, which expanded into North America four years ago, to expand access to capital for small and mid-size business, according to a Beequip release today. The transaction was arranged by BNP Paribas, BofA Securities and Citigroup Global Markets.
Beequip has financed more than $4.6 billion in heavy equipment in Europe and North America. The company uses an “equipment first” underwriting approach that prioritizes machinery value and business plans over traditional financial metrics. This method also led to the structure of the securitization, the release states.
Editor’s note: All amounts have been converted to U.S. dollars.
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