AutoNation Inc., the largest U.S. auto dealer, plans to sell up to $800 million of auto loan-backed paper by the late third or early fourth quarter, said a source in the company's treasury department. The lending unit of the Fort Lauderdale, Fla.-based concern has chosen a syndicate group led by Banc of America Securities to run the books with Credit Suisse First Boston and First Union Securities Inc., it was added.

AutoNation filed a preliminary S-3 shelf registration with the Securities & Exchange Commission July 19 for a token $1 million of auto loan-backed paper for issuance vehicle ANRC Auto Owner Trust. The company plans to increase available capacity of the shelf to a total of $2 billion.

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