There are two auto securitizations marketing currently, with an equipment and a student loan ABS filling the transaction pipeline as well.
Hyundai Capital America (HCA) is in the market an $800 million offering called Hyundai Auto Receivables Trust (HART) 2011-C. The deal is backed by prime-quality retail instalment auto loan contracts that were originated by HCA.
According to a Moody's Investors Service presale report on the deal, HCA has issued fourteen transactions since 2001. This offering is its third public retail issuance of the year. Moody's added that the transaction is structured as an amortizing owner trust, a structured that allows for a variety of maturities suited for investor needs.
Lead underwriters on the transaction are Citigroup Global Markets, BNP Paribas, JPMorgan Securities, and RBC Capital Markets.
Meanwhile, Credit Acceptance Corp. is also in the market with a $200 million auto ABS. According to a Bloomberg report, the sole lead arranger on the transaction is Wells Fargo and co-managers are BMO and Fifth Third Bank.
On the education front, Panhandle-Plains Higher Education Authority (PPHEA) is in the market with a student loan revenue bond with taxable Libor floating-rate bonds. The transcation is Series 2011-2.
According to a Fitch Ratings presale report, the 2011-2 bonds will be issued pursuant to a discrete trust indenture, dated Oct. 1 between PPHEA and Wells Fargo Bank, National Association serving as indenture trustee. Some of the proceeds of series 2011-2 will be utilized for the refunding of existing bonds under the 1991AB trust.
As reported by ASR on Friday, General Electric Capital Corp. is in the market with a $522.21 deal called GE Equipment Midticket LLC, Series 2011-1. For a complete article on the transaction, please this link.