Look for autos to clog the ABS highway next month as close to $4 billion in auto deals will screech down the asphalt in July. Honda's ramping up for a public offering, WFS Financial will have a new bookrunner to sell its sizable transaction, and Toyota's preparing a large deal from its long dormant loan program.

Honda will motor to market with a much larger deal from its Auto Receivables Grantor Trust compared with the last transaction from that vehicle. Expect volume to be close to $1 billion and the curtains to be opened, as the auto lease deal will be offered in the public market this time, according to sources. Honda's last grantor trust transaction was a private $500 million deal that priced in November 1998. Credit Suisse First Boston will manage the sale, which will be split into three tranches and is scheduled for launch in July.

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.