*NEWS*32,000 COPIER LEASES SELL FOR $292M

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*NEWS*32,000 COPIER LEASES SELL FOR $292M

 user 2003-09-26 at 9:34:00 pm Views: 109
  • #7439
    GreatAmerica Leasing Corp. sells $292 mln ABS
    Equipment leasing company GreatAmerica Leasing Corp. on Thursday sold about $292 million of asset- backed securities supported by leases, market sources said.

    Wachovia Securities led the sale of the Rule 144a securities, the sources said.

    GreatAmerica Leasing, a privately held company based in Cedar Rapids, Iowa, makes and services small- ticket commercial equipment leases to small businesses through a network of office equipment and telephone dealers.

    For its fifth securitization, the company pooled more than 32,000 lease contracts on copiers and printers; telephone and fax machines; medical equipment and computer hardware and software, Fitch Ratings said in a presale report on the deal.