Capteris closes $437M ABS deal

Capteris Capital closed its second asset-backed securitization totaling $437 million, with strong investor demand leading to oversubscription across the deal.

The asset-backed securitization (ABS) transaction included 17 investors — 11 that were new to the platform — with BofA Securities serving as co-structuring lead and lead bookrunner, alongside Redding Ridge Advisors, according to today’s Capteris release. Apollo Global Securities and Truist Securities acted as joint lead bookrunners, and RBC Capital Markets was co-managed, with the deal also rated by Moody’s and DBRS Morningstar.

Morningstar assigned top-tier ratings to the senior notes, according to a March 24 Morningstar release. The ratings reflect strong deal protections such as built-in credit support, reserve funds and excess spread, along with a collateral pool yielding about 8.7%, the rating agency said.

The agency also pointed to Greenwich, Conn.-based Capteris’ performance and leadership team, according to the release. Since launching in 2022, the company has originated more than $1.5 billion, funded over $1.1 billion and reported no credit losses, while launching its inaugural $225 million ABS deal in August 2024.

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