PHILADELPHIA, PA--(Marketwire - December 9, 2010) - LEAF Financial Corporation ("LEAF"), the commercial finance subsidiary of Resource America, Inc. (
Through LEAF 2010-4, LEAF securitized approximately $200 million of leases, term funded by
the issuance of Contract Backed Notes on behalf of LEAF Equipment Leasing Income Fund III, L.P. ("LEAF III"), one of the investment partnerships it manages. Guggenheim Securities, LLC, was the arranger of the notes and LEAF will continue to be the servicer for the assets. LEAF has completed four securitizations in calendar 2010 to date for $600 million.
Crit DeMent, Chairman and CEO of LEAF, said, "Completing our fourth securitization so far this year continues to demonstrate that the ABS market is back for equipment leasing as an asset class, as once again the bonds in this transaction were sold to a wide variety of institutional investors. An active securitization market is a vital part of a well-rounded funding strategy for an independent lessor. The rebound of the market will give LEAF an even greater ability to service our many equipment vendor partners by financing their small business customers."
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. After origination LEAF manages the leases 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