Bank of Nova Scotia (Scotiabank) and BMW of Canada have each released their first securitizations of Canadian loans and leases for the year, both in U.S.-dollar currency.

Scotiabank’s Securitized Term Auto Receivables Trust 2017-1 (SSTRT) will issue $500 million in U.S.-denominated senior notes across four tranches: a $110 million A-1 money market tranche, a $175 million Class A-2 series split between two-year fixed- and floating-rate notes; a three-year $157 million tranche of Class A-3 bonds and a Class A-4 series of notes totaling $58 million that are due in 2021.

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