CAN Capital has successfully completed a term debt securitization, issuing notes in three classes rated A, BBB, and BB- by KBRA. The blended yield on these notes is 8.47% per annum. The transaction includes a dynamic advance rate that varies from 92.25% to 96.75%, depending on the collateral composition at the time. The initial receivables securing the offered notes had an average original balance of $76,604.
Edward Siciliano, CEO of CAN Capital, stated, "We are pleased to announce the completion of our first term securitization since 2014, which will help fuel our growth for the next several years." He added that this achievement reflects CAN's strong presence in financing small businesses and its favorable market position.
Guggenheim Securities, LLC acted as the sole structuring advisor, book-running manager, and initial purchaser for this transaction.
The press release emphasizes that it does not constitute an offer to sell or solicitation to buy securities where such actions would be unlawful.
CAN Capital was established in 1998 and is known as a pioneer in alternative small business finance. It leverages technology and proprietary risk models to facilitate quick access to capital for businesses through various financial products.
For further information regarding this announcement, investor contacts include Rich Irwin (Chief Financial Officer) at 678-239-3819 and Ed Dietz (General Counsel) at 678-239-3711.