Securitization

Avolon plans to partner with Wells Fargo, to form a new joint-venture aircraft leasing business called Avolon Capital Partners Limited.

WE’RE HEARING there’s no easy way to get a high rating on an REO-to-rental securitization. But a strong sponsor helps.

Frequent issuer Credit Suisse Asset Management is planning a $747.5 million CLO; there's also a $474.9 million offering from Western Asset Management, which hasn’t come to market since the financial crisis.

Moody's Investors Service put the ratings of some $20 billion of tobacco settlement revenue bonds under review, saying an agreement over disputed payments could reduce cash flows.

Capital One issued a $750 million credit card asset backed securitization deal.

Wells Fargo and the Royal Bank of Scotland are marketing a $1.44 billion commercial mortgage backed securitization.

Servicers need to pay more attention to changes in home prices and how they relate to delinquency rates.

Extended Stay plans to issue a $2.5 billion single-borrower CMBS deal that is being managed by JP Morgan, Deutsche Bank and Citigroup.

Until the SEC spells out the impact of the Volcker Rule on asset-backed commercial paper (ABCP) conduits, the volume of paper outstanding is likely to remain flat or drop slightly, according to a recent report by Standard & Poor’s.

Nelnet is prepping a $438 million student loan securitization, its first of the year.

Egan-Jones Ratings Company and its president Sean Egan will be barred for at least 18 months from rating asset-backed and government securities issuers as a Nationally Recognized Statistical Rating Organization.

Kroll Bonds Rating and Fitch Ratings assigned preliminary ratings to Redwood’s second residential mortgage-backed securitization in 2013 called Sequoia Mortgage Trust 2013-2.

Hyundai plans to issue a $1.31 billion auto ABS deal called Hyundai Auto Receivables Trust 2013-A (HART 2013-A).

Ford Motor Credit’s Canadian subsidiary is shopping $538 million of notes backed by auto loans, its first retail deal of the year.

Marine container securitizations set an all-time record in 2012 with issuance totaling $3.6billion in volume.

Sallie Mae said that it will continue to issue FFELP ABS to finance the redemption of all legacy FFELP loans previously sold into the U.S. Department of Education’s Straight –A conduit program.

Hertz priced an upsized, $950 million offering of three-year and five-year notes backed by its fleet of rental cars.

Morgan Stanley is marketing a $519 million CLO for LCM Asset Management.

Macquarie Bank priced $500 million of Aussia auto lease-backed notes targeting U.S. investors; a floating-rate tranche maturing in May 2015 pays Libor plus 27 basis points.