Textron Financial was prepping up two deals - the long-awaited debut of its franchise loan series and an aircraft lease securitization - prior to the events of Sept. 11. Both deals have been postponed, sources said.

Deutsche Bank Alex. Brown had reportedly been in the preliminary stages of marketing the aircraft deal, backed by leases on small commercial jets - the deal has since disappeared, presumably in relation to the headline risk and the general fallout of the airline industry. The company's last aircraft securitization was put on watch with negative implications by Fitch following the terrorist attacks and their impact on the industry. There's no telling when, or if, Textron will resume this deal.

One source said that Textron is still planning to go forward with its franchise securitization, via Credit Suisse First Boston, only timing is unclear at this point. It's heard that officials for the company were in the New York area prepping the deal, and were evacuated from their downtown hotel the morning of the terrorist attacks.

Luckily, Textron is considered well capitalized for a finance company. Fitch recently released a research write-up on Textron's corporate credit, rating its long-term debt at A', and short-term at F1.'

Last week, though, the Providence, RI-based finance company announced it would post a loss for the quarter and slash approximately 2,500 jobs. Textron said it will incur a costly $275 million charge associated with a construction equipment company it acquired in 1999.

Textron was not contacted for this story.

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