Small-ticket office equipment issuer SierraCities (formerly First Sierra) will exit the term securitization market, but not before potentially launching one last deal for as much as $900 million, according to Gene Godick, chief financial officer of VerticalNet, which is expected to complete its acquisition of SierraCities by year-end.

The deal would close before the end of the year. As part of the terms of the acquisition, SierraCities' leasing receivables - which amount to nearly $940 million - will be removed from the balance sheet, Godick said.

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.