Honda Auto Receivables Trust (HART), a special-purpose vehicle that was designed to purchase assets from Honda Canada Finance Inc., is set to come to market in two weeks with an auto-backed deal, sources knowleagable about the transaction said.

The deal, which will be rated by Dominion Bond Rating Service Limited (DBRS), will most likely include a small portion of motorcycle loans in the portfolio.

Canada Imperial Bank of Commerce (CIBC) will act as the sub-administrative agent. The HART structure is a slightly different because, though the administrative agent is Honda, CIBC performs most of services needed to be performed for the trust, a source explained.

Though HART's previous transactions have all been commercial paper to date, the trust has the capability to issue a longer-term deal.

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