CarMax Business Services LLC priced its first issue of 2013, an upsized $1.04 billion prime auto asset-backed securities deal called CarMax Auto Owner Trust 2013-1.

The deal was initially sized at $800 million but despite the increase in demand, pricing on the deal softened a bit a bit from spreads on the last prime auto ABS deal to come to market, Hyundai’s Auto Receivables Trust 2013-A.  

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