Wayne, PA, May 9, 2018 - DLL, the leading vendor finance company in the United States and AGCO, a global leader in the design, manufacture and distribution of agricultural solutions, announced today the closing of DLL 2018-1 for $824.38 million.
The notes are backed by $896.5 million of loans and leases secured by agricultural equipment originated by AGCO Finance, a joint venture between DLL (51% ownership) and AGCO (49% ownership). The transaction includes $195.0 million class A1 notes, $255.0 million class A2 notes, $250.0 million class A3 notes and $124.38 million class A4 notes. The notes were rated A1+/P1 or AAA / Aaa by Standard & Poor’s and Moody’s, respectively.
The transaction follows DLL's successful initial securitization in November 2017, of $501.5 million. Read the announcement here.