Originator LEAF Funding Inc. (LFI), wholly owned by LEAF Financial Corp., is in the market with a $171.4 million transaction backed primarily by a pool of secured commercial loan contracts, finance leases and fair market value leases originated by LFI. 

The five-tranche 144A transaction is the fourth term ABS sponsored by LEAF Financial since 2007, according to a presale report by DBRS. To access the presale report, please click this link.

Further preliminary details on the offering are available via the link below from the ASR Scorecard database.

Meanwhile, auto deals have been sprucing up other parts of the ABS market. Today Ally Financial priced its $1.09 billion auto ABS transaction called Ally Auto Receivables Trust 2010-3, according to a Bloomberg report.

The report said that the deal's $397 million tranche maturing in 1.29 years yielded 10 basis points over the one-month Libor.

The six-tranche offering is lead managed by Citigroup Global Markets. Co-managers on the deal are RBS Securities and UBS.

The deal comes after General Motors Corp.‘s announcement that it will be purchasing AmeriCredit in an all-cash transaction valued at around $3.5 billion. It has been four years after General Motors sold a majority stake in what was then called General Motors Acceptance Corp. (GMAC), which is now Ally Financial.

AmeriCredit also announced that it priced its $200 million auto ABS lead managed by RBS Securities.

The three-tranched transaction, AmeriCredit Automobile Receivables Trust 2010-B, was co-managed by Deutsche Bank Securities, JPMorgan Securities, Credit Suisse Securities and UBS

The deal featured a wrap from Assured Guaranty Corp. For more on the offering, click this link.


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