Valley Forge, Pennsylvania-IKON Office Solutions, Inc. (NYSE: IKN) today announced that IKON Receivables LLC, an indirectly owned, special purpose subsidiary, has issued $634.4 million of equipment lease-backed notes. IOS Capital, Inc., a subsidiary of IKON Office Solutions, will act as Servicer. The four classes of lease backed notes are anticipated to be rated A-1+/P-1 or Aaa/AAA by Moody's Investors Service and Standard & Poor's. The notes are backed by lease contracts on copiers and other office equipment. The notes are insured by AMBAC. Chase Securities, Inc. managed the sale, with Bank of America Securities LLC, Deutsche Bank Alex. Brown, Lehman Brothers, and PNC Capital Market acting as co-managers.