Macquarie is riding the rising demand for securitisation of equipment lease receivables in the US with the launch of another series - just a fortnight after making a similar issuance.  Macquarie Leasing will sell US$500 million of notes backed by vehicle lease receivables originating from Australia.  The series is being issued by the SMART Series 2011-1US Trust, which last issued securities in the local market in November, for A$500 million, and this was an upsized from A$300 million. Two weeks ago, Macquarie Group priced US$342 million of securitised notes, backed mostly by technology assets and capital equipment leased to companies in the US.  The F1+ short-term tranche on that financing was priced at a coupon of 0.43 per cent, and the AAA-rated tranche, with an expected life of 1.5 years, was priced at 1.21 per cent.The current collateral pool consists of 17,400 passenger and light commercial vehicle lease receivables totalling A$568 million. The short-term portion, of around US$98 million Class A-1 notes, is rated F1+ by Fitch, while three classes of notes totalling US$402 million are rated AAA. The balance has ratings ranging from AA to BB.This transaction would be Macquarie Leasing's fourth asset-backed securitisation since the global financial crisis and the second in the US market.