Securitization

New York and Hawaii are the next two U.S. states to legislate rate reduction bonds.

The $275 million class of senior notes is being marketed at three-month Libor plus 165 basis points.

STORE Capital Corp. issued its $218.5 million commercial net lease mortgage-backed securitization, pricing the shorter dated, single-A notes at tighter levels than its March transaction.

CarMax is planning its third auto loan securitization of the year, according to a regulatory filing.

The $365.25 million collateralized loan obligation is actively-managed and backed by a revolving pool consisting primarily of broadly syndicated senior secured loans.

Nissan and Mercedes Benz priced two deals they were marketing this week according to pricing term sheets filed on both deals.

Wyndham Worldwide priced its $250 million timeshare loan securitization, Sierra Timeshare 2013-2 Receivables Funding LLC, this week.

Ohio Power Company, a wholly-owned subsidiary of American Electric Power Company (AEP), priced its $267.4 million utility receivables securitization deal called Ohio Phase-In-Recovery Funding LLC.

The $1 biillion (upsized from $500 million) class A notes priced at one-month Libor plus 42 basis points. The $53.57 million (upsized from $26.79 million) class B notes priced at one-month Libor plus 70 basis points.

J.G. Wentworth latest $173 million transaction will securitize lotto winnings, along with structured settlement payments and assignable annuity streams.

A drop in the haircuts applied to securitizations used for collateral funding from the European Central Bank (ECB) is a positive for the sector, according to analysts at Bank of America Merrill Lynch.

Kroll Bond Rating Agency, Fitch Ratings and Moody’s Investors Service assigned preliminary ratings of ‘AAA’/’AAA’/’Aaa’ respectively to $371.62 million of class A notes to be issued by Redwood Trust.

This latest deal totals $345.05 million and features 20 tranches, inluding exchangeable interest-only certificates.

Upgrades might be in store for some Russian residential mortgage-backed securities (RMBS)

The Series 2013-1 notes are backed by a $661.425 million portfolio dubbed Trinity Rail Leasing 2012 LLC containing 7,201 railcars. This fleet portfolio also backs the $333.84 million series 2012-1 notes.

Ohio Power Company plans to issue a $267.4 million utility receivables securitization deal called Ohio Phase-In-Recovery Funding LLC.

Banco Popolare di Vicenza priced the 1.8 year, €980 million A1X tranche of Berica PMI within price guidance at 240 basis points over the three month Euribor.

Ford and Mercedes-Benz are both planning auto loan securitizations, adding a total of roughly $2.3 billion to this week’s pipeline.

General Electric Capital Corporation is prepping a $508 million securitization of equipment leases, according to a presale report by Fitch Ratings.