A new auto fleet lease deal and equipment lease securitization join the consumer ABS primary pipeline this week.
Automotive Rentals, Inc.(ARI) is issuing a $419 million securitization deal from its ARI Fleet Least Trust. The deal called ARI Fleet Lease Trust 2012-A will ultimately be backed by payments on a pool of open-end vehicle fleet lease contracts for cars, light-duty trucks, and other vehicles originated and serviced by ARI. The 2012-A transaction will be the second 144A U.S. term securitization offered by ARI. The proceeds from the transaction will be used for general funding purposes.