PHILADELPHIA, PA--(Marketwire - February 1, 2011) - LEAF Financial Corporation ("LEAF"), the commercial finance subsidiary of Resource America, Inc. (
With the completion of LEAF 2011-1, LEAF has securitized approximately $96 Million of leases, term funded by the issuance of Contract Backed Notes on behalf of LEAF Commercial Finance Fund, LLC, a consolidated subsidiary of LEAF Equipment Finance Fund 4, L.P. ("LEAF 4"), one of the investment partnerships it administers. Guggenheim Securities, LLC, was the arranger of the notes and LEAF will continue to be the servicer for the assets.
Miles Herman, President and COO of LEAF, said, "As the securitization marketplace continues to show increased strength, a number of equipment leasing and finance companies are accessing this channel as a means to diversify their capital strategy. This transaction brings LEAF's total securitizations to $700 Million since May 2010. With this securitization, all of the short term debt of LEAF 4, which at one point totaled approximately $450 million, has now been match funded with long term debt. LEAF 4 now joins LEAF Equipment Leasing Income Fund III, L.P. in having greater stability by no longer relying strictly on short term credit warehouse facilities."
LEAF is a commercial equipment leasing and finance company headquartered in Philadelphia, PA. LEAF's business model is to originate small to middle ticket equipment leases and loans through strategic relationships with equipment manufacturers, distributors, and dealers. LEAF manages leases and loans for its own account, institutions, and individual investors through investment partnerships and other investment vehicles.
About Resource America
Resource America, Inc. is a specialized asset management company that uses industry specific expertise to generate and administer investment opportunities for its own account and for outside investors in the real estate, commercial finance, and financial fund management sectors. For more information please visit our website at www.resourceamerica.com or contact Marketing and Investor Relations at pkamdar@resourceamerica.com.
About Guggenheim Partners
Guggenheim Partners, LLC, the parent of Guggenheim Securities, LLC, is a diversified financial services firm with more than $100 Billion in assets under supervision. The firm's businesses include investment management, investment advisory, insurance, investment banking and capital markets services. The firm is headquartered in Chicago and New York with a global network of offices throughout the United States, Europe and Asia. For more information, please visit www.guggenheimpartners.com
Contact Information:
Contact:
Resource America, Inc.
www.resourceamerica.com
pkamdar@resourceamerica.com