Auto ABS

Starting out as a consumer lender in 2012, Plenti began to make auto loans through its proprietary platform in 2017 and also offers peer-to-peer lending access.

Toyota had granted payment deferrals up to 120 days to eligible borrowers during the pandemic, and then resumed old deferral practices as of June 30, 2020.

In a deal underwritten by RBC, the initial note balance could either be $1.2 billion or $1.7 billion, depending on market conditions at the time of pricing.

The third transaction for 2021 is largely secured by automobile contracts issued to subprime buyers of new and used automobiles and motorcycles.

Daimler AG’s subsidiary Mercendes-Benz Financial Services USA originated the closed-end vehicle leases.

ACC Trust 2021-1 is the issuer’s fifth transaction, and is backed by subprime auto leases extended directly to borrowers through its 68 owned dealerships

The current deal is the eighth retail auto lease securitization from the registered lease securitization platform, which was established in 2013.

Citigroup Global Markets is lead underwriter on the fourth issuance through Toyota’s ABS Green Bond program. The deal references two potential pools to be securitized.

A pool of subprime auto loans, new and used, and approved with a heavily automated, technology driven and multi-step process underpin a $559 million deal.

Carvana Auto Receivables Trust 2021-N2 is the used-car retailer's ninth securitization since 2019, and the third to include a pool exclusively made of non-prime loans.