The U.S. ABS primary market priced $13 billion last week as the market slowed slightly going into the closing weeks of the year. The calendar was, as usual, dominated by real estate-related deals, but last week it was unusually so, as only one auto deal and two credit card deals made it on the board to mix things up.

This week's issuance leader in the market was Hertz Corp. with $4 billion in rental car fleet lease ABS priced. In two separate $2 billion deals from the Hertz Auto Financing Trust, the company completed the much-awaited ABS portion of its leveraged buyout. The deals were led by a who's-who roster of ABS underwriters including Lehman Brothers, Deutsche Bank Securities, Merrill Lynch, Goldman Sachs and JPMorgan Securities.

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