Pawnee Leasing’s $254 Million Securitization


Blank Rome LLP represented Pawnee Leasing Corporation in closing its issuance (via a special purpose subsidiary) of $254,204,000 of asset-backed securities collateralized by equipment leases and loans.


Chesswood Group Limited announced the closing by its subsidiary Pawnee Leasing Corporation of its first marketed U.S. securitization for Pawnee’s prime receivables. Proceeds from the $254 million securitization will be used to pay down Pawnee’s recently renewed revolving warehouse line and to reduce the outstanding balance of Chesswood’s recently renewed senior revolving credit facility.

Pawnee Leasing Corporation is an equipment leasing company founded in 1982 that conducts business in all of the lower 48 states of America, and specializes in providing business equipment leases for equipment financing through an independent network of lease brokers.

The Blank Rome team consisted of Steve Whelan (Picture), Grant Buerstetta, Jeff Gimpel, John Louros, and Delaram Peimani.

Involved fees earner: Grant Buerstetta – Blank Rome LLP; John Louros – Blank Rome LLP; Stephen Whelan – Blank Rome LLP;

Law Firms: Blank Rome LLP;

Clients: Pawnee Leasing Corp;

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Author: Ambrogio Visconti