Element Avoids Market ‘Heroin’ for Lease Sales: Corporate Canada
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Element Financial Corp. Chief Executive Officer Steven Hudson says selling repackaged leases to life insurance companies helped his Canadian firm avoid the “financial market heroin” that almost ruined his first leasing venture 14 years ago.
Hudson, who in 1984 parlayed a mortgage on his C$190,000 ($187,000) Toronto home into a firm that became North America’s second-biggest business lender, said he has “zero” interest in tapping public markets again to sell repackaged leases.