World Omni Financial Corp. filed a preliminary prospectus with the Securities and Exchange Commission (SEC) to issue a $716.8 million auto lease ABS under its World Omni Automobile Lease Securitization Trust 2011-A.
Joint bookrunners on the transaction are Bank of America Merrill Lynch, Deutsche Bank Securities and Morgan Stanley.
To view the entire SEC filing, please click on this
For further preliminary details on the offering, please access the link below from the ASR Scorecards database.
Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
Broken down by product type, the agency's NJCLASS Standard Fixed product should account for a large majority of the loans, 75.4%. NJCLASS Consolidation will account for the next-largest group, 14.1%.
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The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
The JPMorgan Chase CEO took aim Tuesday at the proposed Basel III endgame rules, hindrances to mergers and bureaucratic burdens. "I would love to have a more productive relationship with regulators, but I think it takes conversation," Dimon said.
