PEAC Solutions closes US securitisation transaction

PEAC Solutions has achieved a significant milestone with its first Asset Backed Securitisation (ABS) transaction which closed on June 25^th, 2024.

PEAC Solutions Receivables 2024-1 LLC (PEAC 2024-1) issued notes totalling US$600 million. The notes are backed by leases and loans predominantly secured by office equipment, commercial and industrial, and other construction equipment. This securitisation was met with strong investor interest.

The transaction received top-class ratings from both Fitch and KBRA, with the highest-class ratings of F1+/AAA and K1+/AAA respectively, reflecting the high quality of the underlying assets and PEAC Solutions’ robust financial management.

Mathew Petrick, Chief Financial Officer of PEAC Solutions, commented, “PEAC has seen tremendous growth since its platform acquisition by HPS Investment Partners in early 2022, including origination growth of more than 250% over the two years before the acquisition.

“We were thrilled to see the strong investor interest in our story and our first Asset Backed Securitisation (ABS) under the PEAC brand for 2024. We will continue to look at the securitisation platform as a source to partner with investors to finance our growth.”