USAA Federal Savings Bank is in the market with a $1 billion auto-loan backed deal. The offering is led by JPMogan Securities and Wells Fargo Securities.
Preliminary details on the transaction are available via the link below from the ASR Scorecard database.
Meanwhile, DBRS has assigned final ratings to the $80.7 million Marlin Leasing Receivables XII LLC transaction. The deal's two senior classes of notes are eligible under Term Asset-Backed Securities Loan Facility or TALF program.
This is the tenth term securitization from the Marlin Leasing Corp., which is the originator, servicer and sponsor of the deal. It is also the firm's fifith to earn a triple-A rating.
A portion of the proceeds of this issuance was used to repay the full amount outstanding under the firm's commercial paper conduit warehouse facility.
This was a Rule 144A transaction made to qualified institutional buyers, Along with DBRS, Standard & Poor's also rated the transaction, with the two senior classes receiving 'A-1+'/'R-1=(high)' and 'AAA' ratings from both agencies.
The effective weighted average interest expense over the financing's term will be around 3.13%.