The securitization of SierraCities' equipment leasing portfolio has been postponed, pending delays in the acquisition of SierraCities by online marketplace giant VerticalNet (see ASR 11/13/00 p. 1).

Under the terms of the merger, a balance sheet cleansing securitization would have taken place before Dec. 14, the agreed upon deadline for the acquisition. At press time last Thursday, analysts following the merger expected the companies to have reported new developments on Friday or early this week.

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.