So far there are two deals in the market this week, one each from the student and auto loan sectors.

The Vermont Student Assistance Corp. is planning to issue a deal under its Education Loan Revenue Bonds, Senior Series 2012A, which are tax-exempt, fixed-rate bonds. The offering has a total principal amount of around $21.2 million. Morgan Stanley is the underwriter on the transaction.

The cash and investments pledged under the indenture securing the Series 2012A bonds will be equal to 122.6% of the principal amount of the Series 2012A bonds upon the issuance of the deal and initial application of the proceeds.

Standards & Poor’s and Fitch Ratings are expected to rate the transaction single-A

Santander Consumer USA also plans to sell a $1.4 billion auto ABS under its Santander Drive Auto Receivables Trust 2012-4.

To view Friday’s ASR article on the deal, click here.

The transaction is backed by new and used automobile, light-truck, and utility vehicle loans originated and acquired by Santander Consumer USA, which is majority owned by Santander Holdings USA (SHUSA). SHUSA is a wholly owned direct subsidiary of Banco Santander.

Fitch has assigned expected ratings for classes  ‘F1+sf’ for Class A-1, ‘AAAsf’ for the Class A-2 and A-3 portions, ‘AAsf’ for the Class B, ‘Asf’ for the Class C,. ‘BBBsf’ for the Class D, and ‘BBsf’ for the Class E.

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