(Bloomberg) –Bayview Asset Management, an investment firm known for its focus on mortgages, debuted in the auto bond market this year, selling one of the largest auto asset-backed securities deals ever last week.
The company has sold three auto bonds — which repackage car loans into securities of varying risk and size — with the latest being one of the largest in history: a $4.6 billion offering exceeded only by bond sales from Ford Motor Co. and Bank of America Corp. in the 2000s, according to data compiled by Bloomberg.
