Standard & Poor’s said Monday that the pipeline for structured finance issuance has hit $3.4 billion. January got off to a slow start thanks to the holiday-truncated week but S&P believes activity will pick up again in the next few days. “We expect an active month for CMBS, auto ABS, and CLOs, with issuance reviving in the next few days,” the agency said.
Indeed, ASR is already seeing a puffed up pipeline, with $3.75 billion-worth reported so far. Nissan Motor Acceptance Corporation is in the market with a $1 billion transaction; Morgan Stanley and Bank of America are roadshowing a $1.5 billion CMBS; and Santander Consumer USA has $1.25 billion securitization of auto loans slated to close Jan. 16.