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.

According to the S-3/A filing, securities issued from the trust will not be backed by any contracts subject to registration with the state or federal government, including those related to aircraft.

PaineWebber declined to comment on the filing.

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