News Topics

Aircraft Deals

Air Lease Delivers New Airbus A321-200neo LR Aircraft to SAS

Air Lease delivered one new Airbus A321-200neo LR aircraft on long-term lease to SAS. This aircraft is the first of three A321-200neo LRs confirmed to deliver to the Scandinavian airline from Air Leases’s order book with Airbus. read more

Associations

ELFA: Compensation in the Equipment Finance Industry Grew Modestly in 2019

Compensation in the equipment finance industry increased moderately in 2019, according to the 2020 Equipment Leasing and Finance Compensation Survey from the Equipment Leasing and Finance Association and McLagan. read more

Bankruptcy

Chapter 11 Filings Rise 78% Y/Y in September, Up 33% Overall in 2020

According to Epiq, continuing the trend from August, commercial Chapter 11 filings in September were up 78% compared with September 2019, with 747 new filings vs. 420 during September of last year. read more

Data

ELFA: Compensation in the Equipment Finance Industry Grew Modestly in 2019

Compensation in the equipment finance industry increased moderately in 2019, according to the 2020 Equipment Leasing and Finance Compensation Survey from the Equipment Leasing and Finance Association and McLagan. read more

Economy

Small Business Confidence Rebounds, Remains Below Pre-Pandemic Levels

According to a new survey from Balboa Capital, 53% of small business owners experienced decreased revenues in Q2/20 and Q3/20 compared with 18% in the previous two quarters. Conversely, 54% of small business owners expect increased revenues in Q4/20, an increase of 7% from previous survey results. read more

Equipment Sector

Fleet Advantage Sells More Than $10MM in Off-Lease Used Trucks in Fiscal Q1/20

Fleet Advantage has been active in the sales of off-lease used trucks this year, with total units sold exceeding 400 units and sales in excess of $10 million in its fiscal first quarter ending Sept. 30, 2020. read more

Industry

Fleet Advantage Sells More Than $10MM in Off-Lease Used Trucks in Fiscal Q1/20

Fleet Advantage has been active in the sales of off-lease used trucks this year, with total units sold exceeding 400 units and sales in excess of $10 million in its fiscal first quarter ending Sept. 30, 2020. read more

International

Bombardier Delivers First of Three TRAXX Locomotives to Cargounit

Bombardier Transportation delivered the first of three Bombardier TRAXX MS locomotives to Cargounit, a locomotive and passenger rolling stock leasing provider based in Poland. read more

Joint Ventures

PIMCO and GECAS Create $3B Aviation Leasing Investment Platform

PIMCO, a fixed income investment manager, and GE Capital Aviation Services reached a preliminary agreement to develop an aviation leasing platform to support up to $3 billion in aircraft asset financings. read more

Lease Accounting

Visual Lease Launches On-Demand Virtual Training Center

Visual Lease released VL University, a new virtual training center that provides self-service, video-based instruction to help customers maximize the use of their lease lifecycle management solutions. read more

Legal / Fraud

18 Attorneys From Moritt Hock & Hamroff Receive Super Lawyers Designation

The law firm Moritt Hock & Hamroff reported that 18 of its attorneys were named 2020 Metro New York Super Lawyers. In addition, Brian P. Boland, Matthew S. De La Torre and Kelly Schneid were named 2020 Rising Stars. read more

Mergers / Acquisitions

First Citizens and CIT to Merge

First Citizens BancShares, the parent company of First-Citizens Bank & Trust Company, and CIT Group, the parent company of CIT Bank, will combine in an all-stock merger of equals to create the 19th largest bank in the United States based on assets. read more

New Ventures

PIMCO and GECAS Create $3B Aviation Leasing Investment Platform

PIMCO, a fixed income investment manager, and GE Capital Aviation Services reached a preliminary agreement to develop an aviation leasing platform to support up to $3 billion in aircraft asset financings. read more

Of Interest

Former Head of Equipment Finance for Fifth Third Joins Old Second Bancorp’s Board

Old Second Bancorp, the holding company for Old Second National Bank, added two new members to its board of directors, including Jill E. York, who most recently served as president and head of equipment finance and leasing solutions for Fifth Third Bank until April 2020. read more

People

Martella Joins Arboretum Commercial Finance

Arboretum Commercial Finance hired industry-veteran John Martella as a business development officer for its expanding middle market operations. read more

Program Agreements

United Rentals Redeems 4.625% Senior Notes Due 2025

United Rentals intends to redeem all of the outstanding $750 million principal amount of its 4.625% senior notes due 2025. read more

Recent Earnings

Truist Reports Q3 Commercial Portfolio Decline Despite Growth in Equipment Finance

Truist Financial reported average loans and leases held for investment for Q3/20 were down $11.2 billion compared with Q2/20, primarily due to a decline in the commercial portfolio. However, the company reported growth in equipment finance lending. read more

Securitization

KBRA Assigns Preliminary Ratings to Trinity Rail Leasing Series 2020-2 Notes

Kroll Bond Rating Agency assigned preliminary ratings to Trinity Rail Leasing 2020, Series 2020-2 Class A-1 notes, Class A-2 notes and Class B notes issued by Trinity Rail Leasing 2020, a railcar leasing securitization. read more

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Terry Mulreany
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