Auto sector is heating up once again with two deals from AmeriCredit Financial Services and American Honda Finance Corp.
Americredit is in the market with AmeriCredit Automobile Receivables Trust 2011-2.
The $926.3 million transaction that is backed subprime automobile loan contracts. RBS Securities, Barclays Capital, and Credit Suisse are managing the seven-tranche transaction, which is rated by Standard & Poor's and DBRS.
Meanwhile, Honda filed and S-3 with the Securities and Exchange Commission to issue under its American Honda Receivables Trust.
To view the complete filing, please click this link.
In other deal news on other consumer asset classes, Chase Issuance Trust Class A 2011-1,which is worth $500 million, is in the market.
According to a Fitch Ratings presale report, upon issuance of this deal, there will be 40 series of class A notes outstanding under this trust. The total invested amount of notes outstanding will be roughly $40.22 billion, consisting of $33.73 billion of class A notes, $3.26 billion of class B notes, and $3.24 billion of class C notes, Fitch said.
Meanwhile, FIA Card Services also filed a prospectus to issue under its BA Credit Card Trust.For a full copy of the filing, please access this link.