CarMax pays up (again) for AAA on prime auto loan ABS
The senior term tranches to be issued by CarMax Auto Owner Trust 2017-3 have initial credit enhancement of 7.61%, up from 6.85% and 5.45% in its two prior deals.
By
Glen Fest
Auto ABS
First Investors pays up for AAA on subprime auto ABS
The senior notes benefit from initial credit enhancement of 29.5%, nearly three percentage points higher than the same tranche of the sponsor's previous transaction.
By
Glen Fest
GM Financial cuts exposure to long-term auto loans in latest ABS
Loans between 61 and 72 months at origination decreased to 49.5% of the collateral for GM's latest transaction, down from 51.3% from the sponsor's April deal.
By
Glen Fest
BMW launches 2nd Swiss auto lease ABS totaling €361.4m
The first Bavarian Sky securitization of Swiss BMW auto leases since April 2013 will be split between Euro and Swiss franc (CHF) denominations.
By
Glen Fest
Dutch Lessor LPNL planning €700M commercial vehicle ABS
It's the sponsors fourth securitization, and includes 33,972 contracts to small and medium-sized companies as well as to government clients.
By
Glen Fest
Westlake, Flagship Add $680M to Subprime Auto Pipeline
Two more subprime auto lenders, Westlake Financial Services and Flagship Credit Acceptance, are making their first trips of the year to the securitization market.