Oaktree, North Mill close $355.8M equipment finance securitization
ABS deal includes transactions from Midland Equipment Finance acquisition
Oaktree Capital Management and North Mill Equipment Finance have closed a $355.8 million securitization backed by equipment finance assets, signaling strong investor demand in the equipment finance market.
The deal includes equipment loans and leases acquired from Midland Equipment Finance in November 2025, with North Mill Equipment Finance (NMEF) providing servicing, according to today’s NMEF release. Investor demand was high, with the transaction oversubscribed by about 6.3 times.
Additionally, the notes received ratings from AAA to A and have a 4.7% average yield and a 99-basis-point spread, according to the release. Truist Securities led the transaction, with Deutsche Bank serving as co-manager.
Norwalk, Conn.-based NMEF will continue to service the portfolio, managing the loans and supporting ongoing operations. The lender focuses on small- to mid-ticket equipment loans and leases, typically ranging from $15,000 to $3 million.
Los Angeles-based Oaktree manages about $223 billion in assets and continues to grow its presence in ABS finance, according to the release.
The fourth annual Equipment Finance Connect, a crucial industry event for equipment lenders and dealers, takes place at the C. Baldwin Hotel in Houston May 18-19. Learn more about the event and register here.
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