PHILADELPHIA, PA--(Marketwire - May 28, 2010) - LEAF Financial Corporation, the commercial finance subsidiary of Resource America, Inc. (
Through LEAF 2010-1, on behalf of an affiliate that it manages, LEAF securitized approximately $90 million of leases, term funded by the issuance of Contract Backed Notes. Through LEAF 2010-2, on behalf of an affiliate, LEAF securitized approximately $120 million of leases, term funded by the issuance of Contract Backed Notes. Guggenheim Securities, Inc. was the arranger and initial purchaser of the notes in both securitizations and LEAF will continue to be the servicer for the assets in both transactions. In connection with LEAF 2010-2, LEAF paid off in full and terminated its credit facility with PNC Bank, NA.
LEAF will continue to pursue term financing of leases for itself and its managed entities. Crit DeMent, Chairman and CEO of LEAF Financial, said, "We are very pleased to have completed these securitizations and to finance these assets with long term, match funding rather than through short term facilities. These transactions demonstrate the confidence that both investors and the rating agencies have in our business and greatly help to position the company for future growth."
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.
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Contact:
Resource America, Inc.
www.resourceamerica.com
pkamdar@resourceamerica.com