Consumer ABS

Nissan and Mercedes Benz priced two deals they were marketing this week according to pricing term sheets filed on both deals.

The $1 biillion (upsized from $500 million) class A notes priced at one-month Libor plus 42 basis points. The $53.57 million (upsized from $26.79 million) class B notes priced at one-month Libor plus 70 basis points.

A drop in the haircuts applied to securitizations used for collateral funding from the European Central Bank (ECB) is a positive for the sector, according to analysts at Bank of America Merrill Lynch.

The Series 2013-1 notes are backed by a $661.425 million portfolio dubbed Trinity Rail Leasing 2012 LLC containing 7,201 railcars. This fleet portfolio also backs the $333.84 million series 2012-1 notes.

Ford and Mercedes-Benz are both planning auto loan securitizations, adding a total of roughly $2.3 billion to this week’s pipeline.

The deal, the first from the Credit Account Master Trust this year, features two classes of floating-rate notes, as well as a non-publically offered collateral interest class.

Nissan is marketing a $1 billion auto loan securitization, according to a regulatory filing.

The deal, Volkswagen Auto Lease Trust 2013-A, is expected to settle July 25.

The ClassA(2013-6) notes, upsized to $900 million, priced at a spread of one-month Libor plus 42 basis points.

Chase is planning a $600 million offering of securities backed by credit card recievables; it may be upsized to as much as $1.2 billion.