After completing a public offering in January, Genesis Trust is set to come out with another public term deal sometime in mid- or late-March, sources close to the transaction said.

"Genesis Trust will be issuing more asset-backed securities in the month of March," said William Furlong, managing director of the asset securitization group at TD Securities, Inc. which is the lead underwriter in the upcoming deal.

Genesis Trust last came to the public market with a C$1 billion offering in January. The deal consisted of a three-year tranche of C$300 million aggregate principal amount of 6.688% PowerLine Line of Credit Receivables-Backed Notes, Series 2000-1 and a five year tranche of C$700 million of 6.869% PowerLine Line of Credit Receivables-Backed Notes, Series 2002-2.

The offering was structured by Nesbitt Burns Inc. These two series of notes were given a triple-A rating by both Dominion Bond Rating Service and Moody's Investors Service.

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