CPS Auto Receivables issues $349 million in auto ABS
The deal is fortified with collateralization, subordination and reserve accounts throughout the capital structure to get most of the notes to top ratings.
Auto ABS
Enterprise Fleet Financing approaches ABS market to float $800 million
The supply chain crunch appears to be reflected in this deal, which has the smallest collateral pool of lease contracts since 2019, at 35,020.
Avid prepares a $140 million auto ABS deal to fund borrowers with bankruptcies
Chapter 7 and Chapter 13 make up about 48% and 31% of the borrowers in the pool, respectively, while non-bankruptcy borrowers make up 21% of the pool.
Auto ABS resilience impresses, but analysts expect a return to norms
Auto loan delinquencies and defaults had performed well thanks to federal intervention. Analysts expect them to return to historic levels, and then stabilize.
Ford Credit Auto Lease Trust preps $1.1 billion in issuance of auto ABS
All of the underlying leases are financing new cars, Fitch noted, adding that leases under 36 months for the original term represented about 82.3% of the pool.
World Omni Financial launches jumbo auto deal with stronger credit outlook
World Omni Financial Corp. is returning to the auto-loan ABS market with a jumbo transaction backed by collateral of higher credit quality than other similar deals.
By
John Hintze
BMW Vehicle Lease Trust returns with a plan to issue $1.2 billion in ABS
From the interest rates on the underlying vehicle leases to the benchmark and hedges on the notes issued from the trust, the deal has no Libor exposure.
EART 2021-3 prepares to raise at least $1 billion in auto ABS financing
In a first for the EART program, the collateral will include loans originated through a third-party direct lender.
The second 2021 pricing from First Investors to raise $325 million
Credit enhancement ranges from 24.7% on the most senior class of notes to 1.5% on the most subordinate class.
GM prepares $1.2 billion vehicle ABS while mindful of COVID-19 impact
Despite the auto sector's resilience in recent economic quarters amid the pandemic, observers remain watchful of employment trends and waning government help.
Harley-Davidson floats $605 million in ABS to fund operations
For the current transaction, excess spread is at about 5.65% annually, which is in line with the 5.8% in the 2021-NR series of notes.
Flagship Auto is back for $377 million in ABS secured by used autos
Used autos are in high demand, because the COVID-19 pandemic caused production delays that constrained the supply of new vehicles to the market.
Toyota returns with an $878.6 million auto ABS transaction
World Omni Auto Receivables Trust continues to focus solely on Toyota models, and has the potential to issue up to $1.1 billion in notes.
DT Auto Owner Trust launches $406 million in auto ABS
DriveTime extends financing to borrowers who have subprime credit profiles, generally with limited credit histories, modest incomes or prior credit difficulties.
Aussie fintech Plenti launches inaugural auto ABS
Starting out as a consumer lender in 2012, Plenti began to make auto loans through its proprietary platform in 2017 and also offers peer-to-peer lending access.
Toyota ABS trust floats $1 billion in notes secured by new vehicle leases
Toyota had granted payment deferrals up to 120 days to eligible borrowers during the pandemic, and then resumed old deferral practices as of June 30, 2020.
CarMax holds steady on key deal characteristics with latest auto ABS
In a deal underwritten by RBC, the initial note balance could either be $1.2 billion or $1.7 billion, depending on market conditions at the time of pricing.
American Credit Acceptance returns with $460 million in subprime auto ABS
The third transaction for 2021 is largely secured by automobile contracts issued to subprime buyers of new and used automobiles and motorcycles.
Prime leases on new vehicles back $1.2 billion Mercedes-Benz Auto ABS
Daimler AG’s subsidiary Mercendes-Benz Financial Services USA originated the closed-end vehicle leases.
ACC Trust readies $239.8 million in ABS notes on subprime auto leases
ACC Trust 2021-1 is the issuer’s fifth transaction, and is backed by subprime auto leases extended directly to borrowers through its 68 owned dealerships
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