SeaCube Containers plans to issue a $300 million container lease ABS deal called CLI Funding V LLC (Series 2013-2).
The deal is backed by container lease revenues and residuals. Wells Fargo is lead manager on the deal, according to a Standard & Poor’s presale report.
The SeaCube portfolio consists of 267k units from 7 different marine cargo container types.
S&P has assigned a preliminary rating of ‘A’ to single tranche offering. The ratings agency said today that this latest deal puts the year-to-date volume of container lease ABS to $1.8 billion, ahead of last year’s total of $2.6 billion.