Hyundai priced its $1.28 billion deal dubbed Hyundai Auto Receivables Trust 2013-C, according to a pricing document filed with the SEC.
The 1.05-year, triple-A notes priced at 22 basis points over the Eurodollar synthetic forward curve. The 2.30-years, triple-A notes priced at 30 basis points over the interpolated swaps curve and the 3.47-years, triple-A notes priced at 35 basis points over the interpolated swaps curve.
The double-A plus, 3.93-years, class B notes priced at 70 basis points over the interpolated swaps curve; the single-A plus, 4.12-years, C notes priced at 100 basis points; and the 4.16-years, triple-B plus notes priced at 160 basis points.
J.P. Morgan, BNP Paribas, Citigroup and Societe Generale are the joint bookrunners on the deal.
World Omni Issues Deal
World Omni Financial Corp. priced its $783 million auto-lease backed securitization deal that is backed by leases on Toyota and Scion branded automobiles and light-duty trucks.
The deal, World Omni Automobile Lease Securitization Trust 2013-A, consists of five classes of floating- and fixed-rate notes.
The $110 million class A-1 notes, .22-year, money market fund tranche priced at a coupon rate of 0.25%.
The $343 million class A-2 notes, spilt into A and B tranches, were both offered with a weighted average life of 1.27-years. The A-2A notes priced at 34 basis points over the EDSF; and the A-2B notes priced at 32 basis points over one-month Libor.
The $215 million, triple-A rated, class A-3 notes with a weighted average life of 2.17-years priced at 44 basis points over interpolated swaps; the $85.17 million, triple-A rated class A-4 notes structured with a weighted average life of 2.63 years priced at 55 basis points; and the $30.04 million, AA’-rated, class B notes structured with a weighted average life of 2.74 years priced at 75 basis points.
Credit Suisse, Bank of America Merrill Lynch and Morgan Stanley are the joint bookrunners.