Charter Financial, Inc., a New York-based equipment lessor specializing in media post-production, plastics and hospital equipment, will be in the market this week with a deal via First Union Capital Markets that could be as large as $500 million, according to a shelf registration filed recently.
Charter is a 20-year veteran of the media and graphic art industries, and ranks among the top players in the national post-production market, the plastic equipment leasing sector and medical equipment leasing for New York area hospitals. The company was rated as the fastest growing independent leasing company in the U.S. by Monitor, a leading industry publication.
The deal will be issued out of the company's Charter Equipment Lease 1999-1 trust, and will contain seven tranches: Four A tranches, one B, one C and one D.
"They're basically full payout transactions that are originated through Charter either on a direct basis or through our vendor programs," a senior Charter official said.
The media collateral consists of mostly post-production equipment for the broadcast business, including digital Betacams and editing equipment. The company originates high-tech equipment, too.
Charter has a portfolio of $900 million, of which, $600 million has be securitized.