Gehl Announces $300 Million Asset-Backed Securitization Transaction

March 24, 2006 — Gehl Co., West Bend, Wis., recently entered into an asset-backed securitization financing with JPMorgan Chase Bank, N.A. Under the revolving facility, Gehl may sell up to $300 million of installment sales finance contracts originated through its independent dealers who sell Gehl- and Mustang-branded equipment. The JPMorgan facility replaces and refinances a $150 million program the company put in place in February 2005.

 

“The company is very pleased to have the new facility in place,” said Vice President and Chief Financial Officer Thomas M. Rettler. “With the new facility we have doubled our financing capacity, lowered our costs, and improved the efficiency with which we can sell installment sales finance contracts originated by our dealers.”