CarMax Business Services LLC is preparing its first issue of 2013,a $800 million auto asset-backed securities deal called CarMax Auto Owner Trust 2013-1.
The capital structure includes $116 million of class A-1 notes; $267 million of class A-2 notes; $125 million of class A-3 notes; $125 million of class A-4 notes; $11.2 million of class B notes; $21.2 million of class C notes and $11.2 million of class D notes.
The deal is being led managed by JP Morgan, Barclays Capital and RBC Capital Markets. Bank of America Merrill Lynch, RBS and Wells Fargo are co-managers on the deal.
The deal is backed by a pool of receivables consisting of motor vehicle retail installment sale contracts originated by certain affiliates of CarMax Business Services.