For the third week in a row, the U.S. ABS primary market has generated around $13 billion in new issues, as the market seems to have hit a robust autumn issuance pace.
UBS brought the week's largest pricing, with a $1.25 billion home equity deal. The one-year priced at 11 basis points over one-month Libor. Encore Mortgage had a $962.1 million home equity deal in the market led by Countrywide Securities and Credit Suisse First Boston. The one-year tranche of the deal priced at 10 basis points over one-month Libor, flat to guidance, while the three-year tranche of the deal priced at 24 basis points over one-month Libor, one basis point tight to guidance.