Investec Asset Finance has successfully sold securities worth £246m (€292m) backed by equipment leases to SMEs in a deal aimed at extending its lending facilities.

The securitised bonds were backed by almost 36,000 leases and hire purchase contracts.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

The deal was arranged by Investec Asset Finance’s parent bank and Lloyds Bank and came in four tranches.

£227.7m of the deal was AAA rated and priced at 90bps over Libor (0.47%)

Another £15.8m was rated AA and £11.2m rated single A.

The BBB rated element of the deal was £9.24m of the overall issue with no high-yield element.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The deal was approximately two times oversubscribed with 82% of the bonds going to asset managers, 17% to banks and 1% to insurance companies. In all there were about 15 participants in the deal two thirds of which were UK investors.

The securitisation deal will enhance IAF’s balance sheet and help them to reach their target of a loan book of £1bn in the next two years.