AP Equipment Financing has closed a new US$130 million term securitisation facility with Mizuho Bank. The additional bank facility increased AP’s capital stack to over US$600 million.
“We are very excited to partner with Mizuho Bank and expand upon our existing lending relationships with yet another quality organisation,” stated Zack Marsh, CLFP, SVP at AP Equipment Financing.
“The investment we made to lay the groundwork for this type of facility will provide AP the opportunity to more easily create these types of structured facilities in the future.”
“Mizuho’s expertise in providing this type of facility is matched only by our dedication to our clients,” said Jeremy Ebrahim, Head of Securitised Products Origination at Mizuho. “We are pleased to assist AP Equipment Financing with this transaction which will enable them to originate and finance equipment loan and lease contracts with commercial obligors across the US to grow their core business.”
Chris Lerma, CLFP, President at AP Equipment Financing expanded, “This transaction marks an important step in AP’s strategic initiative to optimise and diversify its capital structure and allows the company to continue to support its core finance business and expand newer business initiatives. The transaction also underscores the confidence our funding partners place in our experienced management team and our ability to originate and manage a solid profitable portfolio.”
