The U.S. ABS primary market played host to $13 billion in new issues last week, as the market came alive again after a series of holiday-interrupted weeks and a mild, early-autumn slowdown. As the market digested news of another quickly forming hurricane and of the possible sale of General Motors Acceptance Corp., a healthy variety of deals hit the board.

The largest deal on the week was a $1.7 billion private credit student loan deal from Sallie Mae led by Credit Suisse First Boston, Lehman Brothers and Merrill Lynch. The three-year tranche of the deal priced at four basis points over three-month Libor, flat to guidance, with the seven- and 11-year tranches also pricing flat to guidance at 18 and 27 basis points over Libor respectively.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.