Non-traditional asset-backed securities led the issuance pipeline in a relatively quiet market lasdt week, bringing volume for the asset class for the year to date to $10.2 billion, according to Standard & Poor’s.

OneMain Financial priced all tranches of its second securitization of personal loans, OneMain Financial Issuance Trust 2014-2 at tighter spreads than its inaugural deal, completed in April. OneMain Financial, a subsidiary of Citigroup, issued $1.18 billion of securities backed by fixed-rate unsecured and auto-secured loans.

The class B notes, rated ‘BBB’ by both DBRS and S&P priced at a spread of swaps plus 175 basis points; 38 basis points tighter than on the first transaction, according to a Barclays report.

The ‘A’ rated class A notes priced at a spread of swaps plus 170 basis points, 12 basis points tighter than the issuer’s April transaction. 

The class C notes were sold at an interest rate of 4.375% and the class D notes were sold at an interest rate of 5.375%. The previous deal, OneMain Financial Issuance Trust 2014-1 sold only two tranches for a total $760 million, with the sponsor retaining the class C and D notes.  

All of the notes in the second securitization are due to mature in September 18, 2024. The April securitization has an expected maturity of June 2024. Citigroup is the lead underwriter for the deal.

Also pricing in the week was Global SC’s container ABS transaction, SEACO 2014-1 . The deal attracted strong investor interet and was upsized by $100 million to $500 million, according to a S&P report.

The $300 million, five-year, A1 class priced at 145 basis points over interpolated swaps.

Guggenheim Securities led deal for Hooters of America priced $300 million of securities backed  by  revenues from 415 restaurants, franchise agreements and intellectual property.

According to a person familiar with the deal, the ‘BBB’ rated class A-2 notes with a weighted average life of 6.6-year priced at a spread of 175 basis points over interpolated swaps, with a fixed rate coupon of 4.85 %. Kroll Bond Ratings Agency assigned ratings to the deal.

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