Hyundai Preps Auto Loan ABS

January 24, 2014, 4:51 p.m. EST 1 Min Read

Hyundai has prepped a $1.13 billion securitization backed by auto loans. Its the second prime auto loan deal to come to market in 2013 following Ford's deal issued this week.

Citigroup, BofAML, Mizuho and RBC Capital Markets are lead managers on the deal, Hyundai Auto Receivables Trust 2014-A.

The loans securitized, purchase Hyundai brand and Kia brand vehicles. According to a deal term sheet filed with the Securities and Exchange Commission, the loans have a weighted average term that range from 24 months to 72 months. The weighted average FICO of the pool is 743.

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