Mercedes-Benz is marketing a 144A $750 million auto lease securitization deal. The four-tranche fixed-rate, transaction called Mercedes-Benz Auto Lease Trust 2011-A (MBALT 2011-A) is backed by a pool of closedend retail automobile lease contracts and related new motor vehicles.

JPMorgan Securities and Bank of America are managing the transaction

The leases are new vehicles manufactured by Mercedes-Benz originated via Mercedes-Benz Financial Services USA (MBFS), an indirect, wholly owned subsidiary of Daimler, and bought by the MBFS-created titling trust directly from its vehicle dealers, according to a Fitch Ratings presale report. 

This transaction will represent MBFS’ first public auto lease ABS offering. The notes will be serviced by MBFS, Fitch said.

Both Moody's Investors Service and Fitch assigned triple-A provisional ratings to the senior notes issued under the deal's capital structure.According to Fitch, the initial securitized value of the asset pool should be a statistically representative subset of the $1.3 billion pool detailed in the offering memorandum supplement.

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