It's just another year closer to a public deal for equipment lender Sensormatic Electronics Corp., said company Treasurer Tom Donahue.

Currently Sensormatic originates roughly $125 million a year, which is the low-end term deal mark for equipment-backed transactions, said Donahue - however, only half of Sensormatic's origination is domestic.

"We're just coming up to the minimum for a public deal, but generally the deals are done with leases originated in only one country," Donahue said.

"When we get our domestic equipment leases probably up to $125 million, then a public deal is something we can consider doing, unless the private markets, which are our current arrangement, are more attractive," he said.

As opposed to term deals, Sensormatic will continue selling into conduits for its overseas product, and, domestically, to other providers who then package the assets with other portfolios for a private or public term deal, Donahue said.

Sensormatic reported a 12% increase in revenue for its 1999 fiscal year (ending in June), and though Donahue chose not to speculate on year 2000 growth, he did say the company is on a steady path.

Donahue, who moved over from CitiBank's Universal Card Services in September, was hired for his expertise in securitization.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.