CarMax is expected to price its $800 million auto loan securitization deal dubbed CarMax Auto Owner Trust 2013-4 by mid-week, according to a pricing document.
The deal has been assigned preliminary ratings by Moody’s Investor Service and Fitch Ratings. The triple-A rated class A2 notes structured with a weighted average life of 1.10-years are being talked at 6 to 10 basis points over the eurodollar synthetic forward curve.
The triple-A, 2.45-years, class A3 notes are being talked at 20 to 39 basis points over interpolated swaps. The triple-A , 3.77-years, class A4 notes are being talked at 39 to 49 basis points over interpolated swaps.
Lower down the credit curve, the 4.11-years, double-A rated , class B notes ; the single-A rated, 4.11-years, class C notes; and the triple-B rated, 4.11-years class D notes are all being talked at 49 basis points over interpolated swaps.
Barclays, RBC Securities and Wells Fargo are lead managers on the deal.