Alter Moneta Executes $80M Securitization

Alter Moneta Corporation, which provides financing to businesses through leases or conditional sales contracts covering various commercial and industrial equipment, executed an $80 million securitization transaction with Coventree Capital Inc. on April 5, 2000, whereby Alter’s finance receivables, based primarily in Quebec and Ontario, were securitized with Rocket Trust. Due to the high quality of Alter Moneta assets, Dominion Bond Rating Service rated the commercial paper issued to investors R-1, the highest short-term rating.

Fasken Martineau DuMoulin LLP acted for Alter Moneta in the transaction with a team comprised of Jon Levin, Liz Johnson, Steve D’Arcy and Doug Grundy in the Toronto office and Jacques Rajotte and Alain Ranger in the Montreal office. Davies, Ward & Beck acted for Coventree Capital with a team comprised of Michael Clifford and Ron Wilson.