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Article: Tough issues facing down equipment leasing industry.(asset-backed securities)
- Article from:
- Private Placement Letter
- Article date:
- November 11, 2002
CopyrightCOPYRIGHT 2002 SourceMedia, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Launching a securities vehicle into the mainstream marketplace doesn't happen overnight. And given the current economic climate, equipment lease asset backed securities (ELABS) continue to face an uphill battle. For the time being, issuers from the sector will remain on the private placement radar, although discussion continues on how to attractively package these deals for a larger cross section of ABS investors.
The business of equipment leasing is not nearly as transparent as that of automobiles or credit cards - the darlings of the ABS market. Therefore, with so many complex levels to plow through, the primary audience for ELABS continues to be private ...