HP Financial Services looking to borrow another $895.2 million with asset-backed securities.

[jim]

HP Financial Services looking to borrow another $895.2 million with asset-backed securities.
Hewlett-Packard Financial Services, a company that provides leases and loans for technology equipment, software, and other assets, announced that it will sell $895.2 million worth of bonds that are backed by the income from these fixed-rate contracts. 

Moody’s Investors Service said that the bonds are supported by high-quality assets and a competent servicer, among other positive factors. The assets’ quality is shown by the fact that about 88% of the discounted pool balance is made up of contracts with large organizations. In addition, the contracts have relatively short terms. The average remaining term of the pool contracts is 38 months, and 51.5% of the discounted pool balance has contracts with 35 months or less left, Moody’s said.

[Author]

January 21, 2024 at 4:20 PM