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Wingspire Equipment Finance Completes Second Equipment ABS Issuance

Tustin, California, October 1, 2025 — Wingspire Equipment Finance, a leading large-ticket equipment finance company, announced the successful closing of its second asset-backed securitization (ABS), WEF 2025-1.  The transaction raised over $292 million and included six classes of notes, the uppermost of which received the highest achievable ratings of F1+/K1+ and AAA from Fitch Ratings and Kroll Bond Rating Agency.

The transaction was backed by a diverse portfolio of equipment loans and leases spanning numerous industries. The transaction was more than 6x oversubscribed, reflecting strong investor demand. The investment grade ratings and market enthusiasm were driven by the portfolio’s excellent credit performance, the management team’s cycle-tested experience, strong sponsorship, and the quality of Wingspire Equipment Finance’s originations platform, underwriting standards, and servicing capabilities. Over 20 prominent investors participated in the transaction.

“Last year we were honored to be the first large-ticket equipment finance company to achieve a AAA rating from a major rating agency on an inaugural issuance,” said Eric Freeman, CEO of Wingspire Equipment Finance. “This year we were able to build on that momentum to deliver another excellent result for our team, our customers, and our investors.”

David Wisen, CEO of parent company Wingspire Capital, added: “The Wingspire platform is committed to supporting the capital needs of middle market companies and their sponsors. This transaction allows us to better serve our clients while further diversifying and expanding our investor base.”

Wells Fargo Securities served as the transaction’s sole structuring agent and joint bookrunner. BofA Securities and Deutsche Bank Securities served as joint bookrunners. Texas Capital Securities served as co-manager. VedderPrice acted as legal counsel to Wingspire Equipment Finance and the issuer.

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Wingspire Equipment Finance is a portfolio company of Blue Owl Capital Corporation (NYSE: OBDC).

Loans made or arranged pursuant to a California Financing Law license.
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1700 Flight Way,
Suite 100,
Tustin, CA 92782

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  • For assets outside the US and Canada, the customer should have investment grade credit or equivalent.
  • However, if the customer doesn't meet these criteria, Anzu's financing partner may still consider financing if non-US/Canada assets comprise no more than 25% of the total collateral value for that respective borrower.

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For privately held companies without public debt, Anzu's financing partner will need the following:
  • 1) CPA-prepared financial statements for the last 2-3 years
  • 2) Current year's interim financials (year-to-date), plus comparable financials for the same timeframe last year.  Please include both income statements and balance sheets for these periods.
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Credit Tier A B C D
Existing Credit Rating(s) Fitch A- and above
Moody’s A3 and above S&P A- and above		 Fitch BBB+ to B-
Moody’s Baa1 to B3
S&P BBB+ to B-		 Rated by Fitch,
Moody’s or S&P but below B tier
Rating provided only by other agencies (e.g. Egan-Jones, Kroll, etc)		 Not rated by any external party
Publicly traded Yes, on major exchange
Market capitalization exceeds $1B		 Yes, on major exchange
Market capitalization between $100M and $1B		 Yes, on minor exchange No
How many employees does the customer have? 10,000+ 1,000+ 100+ Less than 100
Does the customer have a history of profitability? Yes Yes No No
Is the customer a US or Canadian government entity? Yes No No No

Please note that the table of above is illustrative only and solely for the purpose of enabling you to estimate the credit tier of the customer. Anzu Capital Solutions’ financing partner will determine the credit tier of the customer once documentation is submitted.