World Omni Financial Corp. and Prestige Financial Services added a combined $1.17 billion of securities backed by auto loans to the new issue pipeline this week.

World Omni Auto Receivables Trust 2016-A will issue $858.03 of notes backed prime auto loan loans on vehicles originated primarily by Toyota Motor Corp. and originated by World Omni Financial Corp.. There will be five classes of notes: a money market tranche provisionally rated F1+ by Fitch Ratings and three tranches of term notes rated ‘AAA’; all benefit from credit enhancement of 4.55%. There is also a subordinate tranche rated ‘AA’ with 2.5% credit enhancement.

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