MeriCap Credit Corp Completes $50 Million Equipment Receivable Securitization Facility with West LB
OAKBROOK, IL (April 11, 2008) -- MeriCap Credit Corporation subsidiary, MeriCap Funding II, LLC has completed a $50 million Equipment receivable Securitization facility with West LB. The $50 million facility will be used to finance equipment loans and leases originated from the direct Commercial Vehicle dealer business. US Bank Corp is Trustee, custodian and back-up servicer on the transaction. MeriCap Credit Corporation is both the originator and servicer of the transaction. It is a significant step for MeriCap Credit Corporation whose originations have grown over 300% year over year, said MeriCap Credit Corp Chief Financial Officer, Joel Cappon.
