Sun Life Assurance Company of Canada, Securcor and Blue Bridge Financial have announced a US $40 million private securitization facility
Sun Life Assurance Company of Canada, Securcor and Blue Bridge Financial have announced a US $40 million private securitization facility between Blue Bridge SPV Funding I and Securcor. Sun Life, the primary life insurance subsidiary of Sun Life Financial, will fund the facility.
The securitization facility is backed by commercial equipment loans originated by Blue Bridge Financial. It will allow Blue Bridge Financial to expand its market share and continue the expansion of both Sun Life’s and Securcor’s presence in the U.S. equipment finance space, according to a news release.
“Sun Life’s U.S. strategy is focused on originators with experienced management and prudent lending practices,” said Neil Cameron, senior managing director and head of private securitization finance at Sun Life Investment Management. “We look forward to a long and mutually beneficial relationship with Blue Bridge.”
“We are very pleased to bring Blue Bridge on board, as we feel they are a very well-managed organization and are poised to move to the next level in their development,” said Brian Rodd, Securcor president and CEO. “We are happy to be able to work alongside them as they grow their business.”
“This facility represents a watershed event for Blue Bridge Financial, as it allows us to fully migrate to a portfolio lending model, which will provide in-house servicing for all of our business borrowers and origination partners,” said Mark DeBacker, CEO of Blue Bridge. “The scale and economics of this transaction will also provide us an opportunity to expand our product offering and allow for more competitive pricing across our product suite.”
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The securitization facility is backed by commercial equipment loans originated by Blue Bridge Financial. It will allow Blue Bridge Financial to expand its market share and continue the expansion of both Sun Life’s and Securcor’s presence in the U.S. equipment finance space, according to a news release.
“Sun Life’s U.S. strategy is focused on originators with experienced management and prudent lending practices,” said Neil Cameron, senior managing director and head of private securitization finance at Sun Life Investment Management. “We look forward to a long and mutually beneficial relationship with Blue Bridge.”
“We are very pleased to bring Blue Bridge on board, as we feel they are a very well-managed organization and are poised to move to the next level in their development,” said Brian Rodd, Securcor president and CEO. “We are happy to be able to work alongside them as they grow their business.”
“This facility represents a watershed event for Blue Bridge Financial, as it allows us to fully migrate to a portfolio lending model, which will provide in-house servicing for all of our business borrowers and origination partners,” said Mark DeBacker, CEO of Blue Bridge. “The scale and economics of this transaction will also provide us an opportunity to expand our product offering and allow for more competitive pricing across our product suite.”
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