Ford Motor Credit, Ally Bank and Toyota Motor Credit are marketing over $3 billion of securities backed by prime auto loans, according to rating agency reports.

The $1.25 billion Toyota Auto Receivables 2016-A Owner Trust will issue $351 million of money market notes and three tranches of term securities with preliminary ‘AAA’ ratings from Standard & Poor’s: $359 million of notes with a legal final maturity of July 2018; $401 million of notes maturing in March 2020; and $107.75 maturing in September 2021. There is also a $31.25 million subordinate tranche rated ‘AA+’ that matures in March 2022.

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