World Omni Financial Corp. and Nissan Motor Acceptance Corp are both in the market with auto securitization deals sized at $683 million and $750 million respectively.
The World Omni deal, called World Omni Auto Receivables Trust 2012-B, is structured with a $168 million class A-1 note, a $218 million class A-2 note, a $176 millionn class A-3 note, a $107 million class A-4 note, and a $14 million class B note. All or a portion of the class B notes may initially be retained by the depositor on the closing date, according to the registration the issuer filed with the Securities and Exchange Commission today.
The structure will be backed by a pool of fixed rate retail installment sale contracts used to finance new and used automobiles and light-duty trucks. J.P. Morgan , Barclays and Morgan Stanley are joint bookrunners on the deal.
Nissan also began marketing its $750mn deal called Nissan Auto Lease Trust 2012-B. The issuer filed a registration with the SEC on Thursday. The capital structure will include five classes of notes. Nissan also plans to retain a 2012-B SUBI Certificate, which represent all the undivided beneficial ownership interests in the issuing entity. JP Morgan, BofA Merrill Lynch and Societe Generale are underwriting the deal.