Varilease Finance, Inc. announced today the closing of new bank financing for a portion of its existing portfolio.  The $85MM refinance provided first position non recourse bank financing and the second position financing was provided by a non-affiliated bank.   The balance of the 2011 debt was retired utilizing Varilease corporate funds.  Varilease will continue to be the servicer of the assets.  Robert VanHellemont Chairman of the Board of Varilease commented:  “By completing the refinance of our portfolio, Varilease will continue to grow its balance sheet, become a more valuable partner to its lenders and continue our expansion in the middle market lease arena.  The participation by our bank partners in this refinance is a testament to the credit quality, asset mix and value of the Varilease portfolio”.

Established equipment-leasing financiers since 1987, the Varilease companies have financed more than $2 billion in assets worldwide. Varilease responds to the specific needs of companies in the middle-market, and investment-grade range by providing sophisticated and straightforward equipment-lease financing.