Philadelphia, PA – April 25, 2014 – LEAF Commercial Capital, Inc. (“LEAF”), a nationwide specialized equipment leasing and finance company headquartered in Philadelphia, PA, announced today the completion of two transactions with Credit Suisse that significantly expand LEAF’s origination capacity and will help accelerate LEAF’s growth in the equipment leasing space.
LEAF completed an amendment of its existing securitized warehouse credit facility with Credit Suisse, which amendment allows LEAF to significantly increase the outstanding leases and financing agreements funded under this facility. In addition, Credit Suisse provided LEAF with a new revolving line of credit that may be used for general corporate purposes, providing LEAF with ample liquidity to support the growth of its business and secure additional market share.
LEAF President and COO Miles Herman commented, “LEAF has grown substantially in the last few years and, looking forward, we plan on accelerating that growth and expanding our footprint. We are very pleased that Credit Suisse has recognized our progress and provided credit facilities that will support our business plan. As a result, LEAF now has more than sufficient funding capacity to grow our business for the foreseeable future, even at the 50% compound annual growth rate that we have enjoyed over the last several years.”
Mr. Herman concluded, “Credit Suisse plays an important role in our balanced and comprehensive capital markets strategy. In the fall of 2013, they structured and co-led a very successful, $325 million term asset-backed securitization, which introduced many new investors to LEAF.”
Credit Suisse Managing Director Jon Claude Zucconi commented, “We are uniquely positioned to support the development of commercial leasing companies like LEAF. Our comprehensive platform and deep bench of talent provides efficient capital markets solutions and thoughtful advisory expertise that help our clients to achieve great success.”
About Credit Suisse
Credit Suisse is one of the world’s leading banks, committed to delivering financial expertise to corporate, institutional and government clients as well as to high net worth individuals. Credit Suisse leverages an integrated business model that combines the resources of the Private Banking and Wealth Management Division with the Investment Banking Division to provide comprehensive solutions to its clients. The bank was formed in 1856 and currently operates in over 50 countries and employs more than 46,000 people. www.credit-suisse.com
About LEAF Commercial Capital, Inc.
LEAF is one of the leading equipment leasing and finance companies in the U.S. Headquartered in Philadelphia, PA, LEAF serves the small-to-mid ticket equipment finance marketplace and maintains a nationwide origination footprint, working with manufacturers, distributors and dealers of business-essential equipment and software in a variety of industries. www.LEAFnow.com
Contact: Michelle Speranza, Vice President, Marketing and Communications, msperanza@LEAFnow.com