CIT Group closed an upsized, $750 million equipment lease securitization.

The deal, which was originally marketed at $500 million, sold five classes of fixed rate notes in a private offering backed by a pool of equipment leases from CIT Vendor Finance. The weighted average fixed coupon is 1.02%, which represents a weighted average credit spread of 0.58% over benchmark rates for the five classes of notes, according to a press release issued Thursday. The securitization had a net advance rate of 92.6%.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.