World Omin Financial lans to issue $988 million of bonds backed by prime auto loans, according to Fitch Ratings.

The deal, World Omni Auto Receivables Trust (WOART) 2014-B, will issue a $186 million money market tranche, rated ‘F1+’ by Fitch, and three tranches of notes rates ‘AAA,’ one maturing in January 2018, another in January 2020 and another in December 2020. All benefit from credit enhancement of 4.55%. There is also an ‘AA’ rated tranche with credit enhancement of 2.5%.

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