California Republic Bank is preparing a $223.37 auto loan securitization, according to a regulatory filing.
The deal, California Republic Bank Auto Receivables Trust 2014-1, will issue six classes of notes: the $34.1 million class a-1 notes mature in April 2015; the $60.5 million class a-2 notes mature in January 2018; the $55.0 million class a-3 notes mature in May 2018; the $50.9 million class a-4 notes mature in August 2019; the $10.6 million class b notes mature in December 2019; and the $12.3 million of class c notes mature in December 2020
Credit Suisse is the sole bookrunner
This will be California Republic’s first deal of 2014. In 2013, the lender completed three auto loan securitizations, only one of which was publicly offered, according to information posted on its website. The most recent deal, which was completed in November, was rated by both Moody’s Investors Service and Standard & Poor’s. To date neither agency has published ratings on the current offering.