In last week's ABS Market roundup, the price guidance for the single-A rated B class of the Susquehanna auto-lease ABS was incorrectly reported as being in the 100 basis point area over one-month Libor. Guidance was actually set in the mid-100 basis point area, therefore the final pricing spread of 145 basis points was actually inside of initial talk.
TLOT 2025-B has a couple of other credit strengths, including Toyota's experience as a sponsor and servicer, and the underlying loans' strong quality.
The A1A notes benefit from credit enhancement levels that equal 30% of the note balance in that tranche.
The deal must own at least eight assets, otherwise it will begin to use any excess cash to fully pay down the notes.
The Mortgage Bankers Association leader cited past objections on anti-competitive grounds as Trump administration officials showed signs of progress on reform.
The AI-powered auto lender is the latest fintech to debut an IPO in recent months, even as a different auto lender filed for bankruptcy this week.
According to media reports, Tricolor suspended operations and furloughed its staff, with plans to liquidate.
