American Railcar Leasing (ARL) is marketing $625.5 million of railcar equipment lease-backed notes.

The transaction, Longtrain Leasing III, will offer two tranches of class A notes that have been assigned a preliminary ‘A’ rating by Standard & Poor's.  The notes hvae weighted average life of 10 years. ARL was last in the market in June 2014 with a $325 million securitization.

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