Finance

3i Debt Management Investments is prepping a €309.6 million ($411.5 million) European collateralized loan obligation called Harvest CLO VII. The deal features five classes of senior floating-rate notes and subordinated notes.

Fifth Third Bank's $1 billion auto loan securitization is expected to price mid-week, according to a pricing term sheet.

Citigroup priced its Citiseries Class 2013-A3 and Class 2013-A4 notes today. The bank is also marketing a $900 million single-tranche offering of floating-rate Class 2013-A5 notes from the same trust.

The American Securitization Forum urged mortgage servicers and trustees to reject offers from the city of Richmond, Calif. to buy mortgages out of private trusts at deeply discounted prices or face eminent domain proceedings.

July was the most active month for timeshare ABS issuance with close to $600 million of new paper pricing. With $1.3 billion of issuance year-to-date, 2013 is on pace to match the $2.3 billion sold in 2012.

Lowered fixed-income allocations will continue to pressure on structured finance credit spreads in the medium term, said Standard & Poor’s today.

The Federal Housing Finance Agency said Thursday that it would initiate legal action to stop cities from using eminent domain as a way to force the sale of private-label loans at a discount.

Fifth Third Bank is marketing its second securitization of 2013, a $1 billion transaction backed by prime auto loans.

The City of New York priced its $91.4 million of tax lien securitization at 85 basis points over the Eurodollar synthetic forward curve (EDSF) for the 1.12- year, triple-A rated tranche.

JPMorgan Chase is preparing a $250 million CMBS deal called J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-ALC backed by assisted living facilities.

Three RMBS trustees, representing bondholders, filed a lawsuit to prevent Richmond from using eminent domain powers to seize mortgages and write down balances.

Jumbo lender Redwood Trust plans to acquire and securitize agency conforming loans, as well as participate in Freddie and Fannie risk-sharing transactions.

Despite improving transaction characteristics for container lease securitizations, the sector still faces some risks that could prevent deals from earning 'A' ratings, Fitch Ratings warns in a research report published today.

Ally Financial lined up its third 2013 subprime auto asset backed securitization called Capital Auto Receivables 2013-3.

Oaktree Capital Group plans to issue a $260.5 million deal called ORES 2013-LV2 that is backed by a pool of non-performing loans and real estate-owned properties.

Citigroup plans to issue two credit card receivables securitications from its Citibank Credit Card Issuance Trust,

AmeriCredit priced its $877 million subprime auto ABS deal at tighter levels than Santander Drive Auto Receivables Trust 2013-4, the last subprime auto to come to market.

The Justice Department and the Securities and Exchange Commission have both filed civil lawsuits against Bank of America alleging that the financial institution defrauded investors about the riskiness of $850 million in residential mortgage-backed securities.

Kentucky Higher Education Student Loan Corp. is planning a $563 million securitization of federally-guaranteed student loans, according to a presale report from Standard and Poor's.