PaineWebber amended its equipment-backed rent-a-shelf filing with the Securities and Exchange Commission last week, which will allow the firm to issue equipment lease- and loan-backed securities on behalf of smaller originators desiring one-time or occasional access to the capital markets, sources said.

PaineWebber has been part of the syndicate on approximately $1.6 billion worth transactions backed by either equipment leases or loans, including aircraft lease-backed securitizations. PaineWebber has been lead manager on one of these: the recent $1 billion Pegasus Aviation deal, which priced in March 2000.

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