CarMax filed a prospectus supplement to issue a deal backed by a pool of motor vehicle retail installment sale contracts.
The company is planning to issue a $650 million offering under its CarMax Auto Owner Trust 2011-2. The joint bookrunners are JPMorgan Securities, Bank of America Merrill Lynch and Wells Fargo.
Barclays Capital, RBC Capital Markets and Scotia Capital are the co-managers on the planned transaction.
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Federal Reserve Vice Chair Philip Jefferson said in a speech Friday that long-term productivity gains brought on by artificial intelligence could compel the central bank to maintain higher rates to keep prices stable.
The highly diversified pool mix consists of 29 different aviation asset types, with a third being new and emerging technology aircraft, and 45.7% are current technology aircraft.
The secondary market regulator will formally publish its own rule on Feb. 6, after a comment period and without making changes to what it proposed in July.
The deal will not make any principal payments during the revolving period unless it needs the cashflow to maintain the required overcollateralization amount.
Bowing to industry pressure, the Consumer Financial Protection Bureau is warning consumers with notices on its complaint portal not to file disputes about inaccurate information on credit reports, among other changes.
The financial technology firm says the hires reflect its continued investment in a solid growth, as it develops its finance offerings, and engages with industry leaders and regulators.
