The U.S. ABS primary market had a sluggish week with just over $5 billion having priced heading into Friday's session. Business is expected to remain fairly slow throughout traditionally languid August, a reality likely to continue through the upcoming Republican National Convention.

GE Capital Corp. made a strong showing in the dealer floorplan sector, pricing the first two deals off of its newly created master note trust, which was formed following the acquisition of Transamerica Commercial Finance Corp. Banc of America Securities and Citigroup Global Markets acted as joint leads on both transactions. The Transamerica portfolio was combined with the Distribution Financial portfolio acquired in 2001.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.