Avis Budget Car Rental is marketing 144A ABS backed by rental fleet vehicles. There are two deals — Avis Budget Rental Car Funding (AESOP), Series 2010-4 and 2010-5, according to a Moody's Investors Service presale report.

The first deal, AESOP Series 2010-4, comprises notes with a 42-month final maturity. The pool is backed by vehicles that are both program and non-program vehicles, Moody's said.

The program vehicles are subject to repurchase, or are guaranteed a minimum depreciation or resale value, by the related auto manufacturer at pre-set prices.

Meanwhile, non-program vehicles are acquired vehicles that do not benefit from such repurchase or guaranteed depreciation agreements.

At the same time, Avis is also planning to issue its Series 2010-5 notes that have a 65-month expected final maturity.

Joint lead managers on both deals, which have a combined six tranches, are Royal Bank of Scotland, Citigroup Global Markets and Credit Agricole Securities.

In the student loan space, North Texas Higher Education Authority is in the market with a $127.6 million auto loan that is lead managed by Bank of America Merrill Lynch. The single-tranche transaction is co-managed by Deutsche Bank Securities.

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