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Direct Capital Extends $100mm Securitization Facility
( Direct Capital Corporation )
(February 5, 2009)

FOR IMMEDIATE RELEASE

Direct Capital Extends $100mm Securitization Facility

PORTSMOUTH, NH Direct Capital Corporation announced today that it recently extended a $100 million lease-backed commercial paper conduit securitization transaction. The transaction originally closed in December 2004 and was renewed in January 2009, with Autobahn Funding Company, LLC as lender and DZ Bank AG Deutsche Zentral-Genossenschaftsbank as agent. Direct Capital plans to utilize the capital to expand its funding capacity for businesses across the U.S. through its direct, vendor, franchise and broker sales channels. This is a tremendous milestone for our firm, particularly in these turbulent times where securing credit has been a challenge to all market participants, said Christopher Broom, Direct Capital Chairman. Securing a multi-year commitment is a powerful endorsement of our best in class sales, marketing, customer service and portfolio management performance.

This financing allows Direct Capital to continue to grow and service new and existing customers. DZ has been a stable and long standing partner of the company and we are pleased to have their on-going support and confidence. Christian Haesslein, Assistant Vice President of DZ Bank's Asset Securitization Group, added, We are pleased to be able to continue our relationship with Direct Capital and congratulate the Company for securing continued funding capacity in this difficult environment.

About Direct Capital
Established in 1993, Direct Capital is the 8th largest independent equipment leasing and finance company in the United States, according to Monitor. The company provides specialty finance solutions, including capital equipment leasing, commercial loans, and merchant cash advances. Direct Capital markets its services through direct relationships with businesses and through partnerships with vendors, dealers, and manufacturers of capital equipment. Superb execution on its exceptional and unique direct service delivery model is the cornerstone of Direct Capital's success in an increasingly commoditized financial services industry. Direct Capital is headquartered in Portsmouth, NH and operates offices in New York, Chicago, Atlanta, Detroit and New London, NH.

For more information, contact:
Dawn Gillette Senior Vice President - Finance Direct Capital Corporation
155 Commerce Way
Portsmouth, NH 03801
Ph: 603-433-9419
E: dgillette@directcapital.com

Sites of Reference: http://www.directcapital.com http://www.dzbank.de/internet_en/index.jsp

 

 

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