| MANAGER ACTIVITY | ||||
| Full Credit to Book (Equal if Joint) U.S. Public ABS Market/144A Market | ||||
| DEALER FLOORPLAN ABS | ||||
| Managers | Proceeds (mils) | Rank | Mkt. Share | # of Issues |
| Barclays Capital | 1,492.5 | 1 | 17.3 | 2 |
| Morgan Stanley | 1,191.7 | 2 | 13.8 | 2 |
| Deutsche Bank AG | 1,191.7 | 2 | 13.8 | 2 |
| Credit Suisse First Boston | 766.7 | 4 | 8.9 | 1 |
| ABN AMRO | 766.7 | 4 | 8.9 | 1 |
| Banc of America Securities LLC | 750.0 | 6 | 8.7 | 1 |
| Lehman Brothers | 725.8 | 7 | 8.4 | 1 |
| JP Morgan | 725.8 | 7 | 8.4 | 1 |
| HSBC Holdings PLC | 566.7 | 9 | 6.6 | 1 |
| Citigroup | 212.0 | 10 | 2.5 | 1 |
| Industry Total | 8,619.5 | – | 100.0 | 7 |
| Source: Thomson Financial | ||||
More From Asset Securitization Report
Island CEF’s equipment leases underpin $265.5 million in ABS
The top 20 obligors account for 32.0% of the aggregate securitization value, while the top 10 represent 18.8%, a moderately elevated concentration.
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Borrowers in the pool had a non-zero weighted average credit score of 608, with a 112.12% loan-to-value (LTV) ratio.
Onslow Bay prepares to sell $452.7 million in ABS from HELOCs
First liens and junior liens account for 197 and 1,755 of the pool, respectively, DBRS said. They have unpaid balances of $30.5 million and $217 million, with FICO scores of 747 and 740 on a WA basis.
Westlake Flooring’s dealer floorplan ABS raises $230.9 million
WFLOOR 2025-1's annualized monthly yield, which averaged 20% since 2018, has been consistently higher than most other dealer floorplan trusts that Moody's rates.
Ford Credit raises nearly $1 billion from dealer floorplan revenue
Ford Credit Floorplan pays a fixed rate to ABS investors, while the dealers' assets pay a rate pegged to the flexible prime rate, so there is the potential of eroding excess spread.
