General Electric Capital Corp. priced $766 million of notes backed by transportation equipment loans and leases, according to documents filed with the Securities and Exchange Commission late Thursday.

Bank of America Merrill Lynch and RBC Capital Markets were the deal's joint bookrunners; Citigroup and CastleOak Securities were co-managers.

The deal’s $171 million Class A-1 money market tranche yields 0.26%. The notes are rated F1 by Fitch Ratings.

The deal has four triple-A rated tranches: the $218 million Class A-2 notes, which mature in November 2015, yield 0.50%; the $181 million Class A-3 notes, which mature in November 2016, yield 0.69%; and the $139.45 million Class A-4 notes, which mature in March 2021, yield 0.90%.

The deal is the fourth transportation-only, equipment term asset-backed securitization from the GEET platform, according to Fitch.

In 2012, there were two transactions totaling $1.5 billion and in 2011 there was a single, $741.5 million transaction. The three previous transactions were backed entirely by loans; whereas GEET 2013-1’s collateral is 82.26% loans and 17.74% leases. 

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.