Although the proposed IPO for Long Beach Holdings Inc. has yet to come to fruition, the privately held concern plans to go ahead with efforts to tap the public term markets with its next securitization of non-prime auto loans, according to a company official.

With plans for its first public offering sometime within the next month or so, the company hopes to bring a $250 million offering, according to Marie Porchetti vice president and treasurer for Long Beach. As has been the case with its previous offerings, the deal will be wrapped by Financial Security Assurance and underwritten by Greenwich Capital Markets. Greenwich has led all of the previous ABS offerings for the issuer.

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