Capital One Financial is poised to offer its first-ever nonprime auto deal without a wrap this week, a Capital One official said. The deal was on a roadshow, to investors last week and is scheduled to be announced formally this week, sources confirmed.

Citigroup Global Markets and Wachovia Securities are joint lead managers on the transaction, which is structured down to the triple-B level. The official could not comment on the size of the deal, but most of Capital One's auto deals total $1 billion or larger.

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.