Bain Capital LLC's credit affiliate, Sankaty Advisors LLC, and Deutsche Bank, are buying GE Capital's Commercial Lending and Leasing portfolios in Australia and New Zealand as part of General Electric Corp.'s (NYSE: GE) planned divestiture of GE Capital. Terms of the deal were not disclosed.

The portfolio has more than A$2 billion (U.S. $1.31 billion) in exposure to five different asset pools: debtor finance, corporate aviation finance, leveraged finance, equipment finance and asset-backed lending. There are more than 500 borrowers across the portfolio.

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