In preparation for next's week Term ABS Loan Facility (TALF) subscription date, auto ABS transactions eligible under the program are being rolled out.
Daimler Retail Receivables filed an S-3 with the Securities and Exchange Commission (SEC) for an automobile-backed ABS, Mercedes-Benz Auto Receivables Trust.
The lead manager on the transaction, which could be TALF-eligible, is listed as JPMorgan Securities in the S-3 filing.
Another auto-backed TALF-eligible ABS is in the market — Bank of America Auto Trust 2009-2. The managers on the $2 billion deal are Banc of America Securities, Barclays Capital, Citigroup Global Markets, RBS Securities and Credit Suisse.
Meanwhile, Fitch Ratings today came out with a presale report on Hyundai Auto Receivables Trust (HART) 2009-A.
The $1.3 billion deal will be backed by a pool of prime retail loan contracts secured by new and used automobiles as well as light-duty trucks originated and serviced by Hyundai Capital America (HCA), according to the rating agency.
According to the ASR Scorecard database, managers on the deal are Banc of America, Barclays, RBS, JPMorgan and SG America Securities.
This is the firm’s first securitization of the year and tenth public deal offered overall, Fitch added. The 2009-A class A notes and collateral comprising the pool are eligible under TALF.
The rating agency also expects to rate the class A notes to be issued by Nissan Auto Lease Trust 2009-B, which will also be TALF-eligible. The notes will be backed by a reference pool of automobile, SUV, and light-truck vehicle leases, Fitch said. All of these are new vehicles manufactured by Nissan Motor Co. while all of the leases and vehicles were originated via Nissan Motor Acceptance Corp. and purchased by Nissan-Infinity LT, a titling company, directly from various franchised vehicle dealers, the rating agency said.
The $1.3 billion transaction will be led by JPMorgan, according to the ASR Scorecard database.
Fitch stated that the deal's class A notes, expected to be offered on a fixed interest rate basis, will total roughly $1.02 billion and are probably going to be publicly offered.
Preliminary details on these transactions are available via the link below from the ASR Scorecard database.