Expect quarterly auto loan issuer Arcadia Financial to come to market either late this month or early in August with a deal in the $600 million range, the company indicated.

The structure for the upcoming deal will be typical for Arcadia, said Scott Fjellman, vice president at the company. The deal and will have a guarantee from Financial Security Assurance - as all past Arcadia deals have - and will also contain five "A-class" tranches, according to a $2.5 billion shelf registration filed early last week.

Y2K worries have put fourth-quarter timing into question as it has for many quarterly issuers, though Fjellman said that for the time being, Arcadia is sticking firm to its normal calendar. "As of right now, we're not expecting to change that timing, but we may," he said.

The Minneapolis-based issuer has completed $1.2 billion through the first six months of its fiscal year, and is on track to price $2.4 billion of total issuance for all of 1999.

Arcadia has completed $5.3 billion over 10 deals since entering the market in 1997. Chase Securities recently came on as a new underwriter in what has been a rotation between Credit Suisse First Boston, J.P. Morgan and Banc of America Securities.

- SK

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