Ryder Truck Rental is looking to tap the securitization market with a truck lease-backed deal worth as much as $1 billion, according to an S-1 filing with the Securities & Exchange Commission.

Merrill Lynch will likely be lead manager, a source familiar with the transaction said. The deal will be structured in five tranches of A-class notes, plus certificates. As of press time last week, further details were unavailable.

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