DLL completes $443 million agricultural equipment securitization

Mahindra Finance USA provides equipment finance for the sale of Mahindra branded equipment in agribusiness, aerospace, commercial vehicles, components, defence, logistics, real estate, renewable energy, speedboats and steel, amongst other businesses.

The transaction included only AAA notes rated A1+/P1 or AAA / Aaa by Standard & Poor’s and Moody’s, respectively.

Matthew Goldenberg, DLL vice-president capital markets added: “This ABS transaction is the testament to investor’s trust and confidence in DLL’s ABS strategy and continued support of various DLL’s origination channels and diversified business platforms”.

This summer, DLL (formerly De Lage Landen) celebrates its 50th anniversary.

Bill Stephenson (pictured), chief executive officer and chairman of the executive board, explained that back in 1969 it first formed as a finance company, with three employees in a small Dutch village, funding equipment mainly for Dutch farmers.

He said: “Today, we provide custom financing solutions for businesses around the world and are leading the development of pay-per-use solutions to address the growing trend of usage over ownership. We have accomplished this by carefully listening to our customers and anticipating their needs, which will continue to be a key to our success in the future.”

* Feature – DLL plans future development of servitisation during 50th anniversary year