UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT
Pursuant to Section 13 OR 15(d) of
The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported) March 21, 2012

 

Commission File Number of the issuing entity: 333-160604-03

GE EQUIPMENT TRANSPORTATION LLC, SERIES 2012-1 (Exact name of issuing entity)

Commission File Number of depositor: 333-160604   CEF EQUIPMENT HOLDING, L.L.C.   (Exact name of depositor as specified in its charter)

GENERAL ELECTRIC CAPITAL CORPORATION   (exact name of sponsor as specified in its charter)

 

Delaware	20-5439580
(State or other jurisdiction of incorporation)	(IRS Employer Identification No.)

 

10 Riverview Drive, Danbury, Connecticut	06810
(Address of principal executive offices)	(Zip Code)

 

Registrant’s telephone number, including area code (203) 749-2101

 

(Former name or former address, if changed since last report.)

 

Exhibit Index located on page 5

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Section 1. Entry into a Material Definitive Agreement.

Item 1.01 Entry into a Material Definitive Agreement.

 

Issuance of Notes

 

On March 21, 2012, GE Equipment Transportation LLC, Series 2012-1 (the “Issuer”), issued U.S.$202,000,000 Class A-1 Asset Backed Notes due March 22, 2013 (the “Class A-1 Notes”), U.S.$200,000,000 Class A-2 Asset Backed Notes due September 22, 2014 (the “Class A-2 Notes”), U.S.$ 200,000,000 Class A-3 Asset Backed Notes due November 23, 2015 (the “Class A-3 Notes”), U.S.$ 51,139,000 Class A-4 Asset Backed Notes due January 22, 2020 (the “Class A-4 Notes” and, together with the Class A-3 Notes, the Class A-2 Notes, and the Class A-1 Notes, the “Class A Notes”), U.S. $32,258,000 Class B Asset Backed Notes due January 22, 2020 (the “Class B Notes”) and U.S.$ 31,120,000 Class C Asset Backed Notes due January 22, 2020 (the “Class C Notes” and together with the Class B Notes and the Class A Notes, the “Notes”) described in a Prospectus Supplement dated March 14, 2012 to a Prospectus dated March 7, 2012.

 

Use of Proceeds

 

The public offering was made under the registration statement (together with the post-effective amendments thereto declared effective on September 13, 2011, the “Registration Statement”) on Form S-3 filed with the Securities and Exchange Commission by the Issuer, which became effective on October 14, 2009 and was assigned commission file number 333-160604. The aggregate amount registered under the Registration Statement was U.S.$2,533,082,133.

 

The public offering terminated on March 21, 2012 upon the sale of all of the Class A Notes and the Class B Notes. The Class C Notes were not offered to the public but rather sold to VFS Financing, Inc. (“VFS”), an affiliate of the depositor. The underwriters of the Class A Notes were Credit Suisse Securities (USA) LLC, RBS Securities Inc., JP Morgan Securities LLC and Mischler Financial Group, Inc. The underwriters of the Class B Notes were Credit Suisse Securities (USA) LLC and RBS Securities Inc. A total of U.S.$202,000,000 Class A-1 Notes were registered and sold, with a total price to the public of U.S.$202,000,000.00; a total of U.S.$200,000,000 of Class A-2 Notes were registered and sold with a total price to the public of U.S.$199,991,580.00; a total of U.S.$200,000,000 of Class A-3 Notes were registered and sold with a total price to the public of U.S.$199,979,300.00; a total of U.S.$51,139,000 of Class A-4 Notes were registered and sold, with a total price to the public of U.S.$51,134,821.94; and a total of U.S.$32,258,000 Class B Notes were registered and sold with a total price to the public of $32,255,616.13. There was no underwriting agreement with respect to the Class C Notes and, consequently, no underwriting discount was paid to underwriters with respect to the Class C Notes.

 

During the period from the effective date of the Registration Statement, through the current reporting period, the amount of expenses incurred in connection with the issuance and distribution of the publicly offered and sold Notes with respect to underwriting commissions and discounts was U.S.$1,400,640.00. After deducting the underwriting discount described above, the net offering proceeds to the Issuer before expenses are U.S.$683,960,678.08. Other expenses, including legal fees and other costs and expenses, are reasonably estimated to be U.S.$1,000,000 and net proceeds to the Issuer, after deduction of expenses, are reasonably estimated to be U.S.$682,960,678.08. With respect to the payment of these other expenses and costs, all direct or indirect payments were made to persons other than persons who are (a) directors or officers of the Issuer, or (b) owners of 10 percent or more of any class of securities of the Issuer.

 

The net proceeds to the Issuer, after deducting the underwriting commissions and discounts, and expenses above, were used to purchase equipment loans from the sponsor, an affiliate of the Issuer. Except as provided in the previous sentence, none of the proceeds were used for payments to (a) any directors or officers of the Issuer or (b) owners of 10 percent or more of any class of securities of the Issuer.

 

Section 9. Financial Statements and Exhibits

 

Item 9.01 Financial Statements and Exhibits

 

(a) Not applicable

 

(b) Not applicable

 

(c) Not applicable

 

(d) Exhibits

 

The following material definitive agreements have been entered into:

 

1. Limited Liability Company Agreement of the Issuer (the “LLC Agreement”), dated as of March 21, 2012.

 

2. Loan Sale Agreement, dated as of March 21, 2012, between General Electric Capital Corporation (“GECC”) and CEF Equipment Holding, L.L.C. (“CEF Holding”) (the “Loan Sale Agreement”).

 

3. Loan Purchase and Sale Agreement, dated as of March 21, 2012, between CEF Holding and the Issuer (the “Loan Purchase and Sale Agreement”).

 

4. Servicing Agreement, dated as of March 21, 2012, between the Issuer and GECC, as the servicer (the “Servicing Agreement”).

 

5. Indenture, dated as of March 21, 2012 (the “Indenture”) between the Issuer and Citibank, N.A., as the indenture trustee.

 

6. Administration Agreement (the “Administration Agreement”), dated as of March 21, 2012, between the Issuer and GECC, as the administrator.

 

 

 

Exhibit No.	Description
Exhibit 4(b)	LLC Agreement
Exhibit 4(c)	Loan Sale Agreement
Exhibit 4(d)	Loan Purchase and Sale Agreement
Exhibit 4(e)	Servicing Agreement
Exhibit 4(f)	Indenture
Exhibit 4(g)	Administration Agreement

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

March 21, 2012

 

	CEF EQUIPMENT HOLDING, L.L.C.
	By:	/s/ Charles Rhodes
	Name:	Charles Rhodes
	Title:	Vice President and Secretary

 

Exhibit Index

 

Exhibit No.	Description
Exhibit 4(b)	LLC Agreement
Exhibit 4(c)	Loan Sale Agreement
Exhibit 4(d)	Loan Purchase and Sale Agreement
Exhibit 4(e)	Servicing Agreement
Exhibit 4(f)	Indenture
Exhibit 4(g)	Administration Agreement