ABS

Trafigura AG completed a $250 million receivables purchase facility that was syndicated by Finacity Corporation.

Penske Truck Leasing Co. has completed its first asset-backed bank conduit facility with a group of six banks for $450 million.

Investment bank EA Markets is muscling up their structured finance team by bringing on three new hires: Neil Winward, Greg Raykher, and Gerry Kaufman.

Credit card holders are keeping a lid on spending, and banks are flush with cheap deposits to fund new accounts. These might not seem like the ideal conditions for credit card securitization to take off, but that's just what is happening.

Florida Citizens' Sharon Binnun brings to fruition largest cat bond by a state entity to date.

In a clear sign that everyone's getting more comfortable with ABS, JPMorgan analysts reported that about $18 billion was issued in the market during the first three weeks of September.

The ASR Scorecards database's preliminary public lead manager rankings for 3Q12 showed JPMorgan Securities taking the top spot with $22.7 billion sold and an 18.5% market share.

The low interest rate environment and demand for high-quality, short-duration paper continued to fuel demand for auto ABS and other consumer assets in September. The market absorbed $18 billion of new issuance through Sept. 17, according to a JPMorgan Securities report published on that date.

Manager Activity: Autos Book Runner Amount (US$ Mil) Rank Mkt.

Since Risk Management Solutions changed its hurricane model in March 2011,

Beacon Container Finance is in the market with a $200 million container ABS transaction. The deal marks the company's debut in the securitization market.

Asset-Backed Commercial Paper Investors will adapt purchasing mandates to accommodate 'F2' rated paper as European ABCP conduits lose their 'F1sf' rating, said Fitch Ratings in a report today.

Continental Airlines is offering $843.9 million of passthrough certificates through a deal called CAL 2012-2.

Barclays Capital analysts expect that publicly placed issuance for 2012 in the European asset-backed market will exceed their original forecast.

Bluegreen Corp. has completed a timeshare ABS while Westgate Resorts' deal got rated by S&P for a combined $122 million tally of transactions in the sector.

General Electric Capital Corp. is planning to issue a securitization under its GE Equipment Midticket LLC, Series 2012-1.

The Italian Bank, UniCredit has made its first ABS tender offer since 2010 to repurchase up to €1bn ($1.28bn) of its Italian RMBS and lease ABS bonds.

Fitch Ratings assigned an 'F1sf' rating to the asset backed commercial paper issued by Windmill Funding Corporation, a partially supported multi-seller ABCP conduit sponsored by The Royal Bank of Scotland.

Credit Agricole Public Sector is in the market with a covered bond backed by export loans guaranteed by export credit agencies of highly-rated sovereigns.

Delinquencies for U.S. timeshare ABS have normalized at their historical levels following increases that occurred in 2008 and 2009, according to a Fitch Ratings report released today.