Barclays preps SABR

Barclays Capital will unveil its inaugural principal finance shelf offering in February, sources confirmed. Expected to total $1.5 billion, the Structured Asset Backed Receivables (SABR) Trust transaction will be backed by home equity collateral, although the shelf can be used to securitize auto loans, as well as motorcycles, recreational vehicles, light-duty trucks, sport utility vehicles and vans. Since mid-2003, a team consisting of Paul Menefee, John Carroll, Trina Wittman, Elizabeth Shen, Joe O'Doherty and Roopai Gupta have been acquiring collateral and structuring the pending transaction.