Volvo Financial Equipment LLC, Series 2015-1 will sell $196 million of class A-1 money market notes rated Prime-1 that are due March 2016, and a total of $575 million, Aaa rated class A notes, offered over three tranches. The class A-2 notes are dues November 2017, the class A-3 notes are due June 2019 and the class A-4 notes are due January 2020.
The issuer's eighth securitization, CRART 2015-1 includes three tranches of DBRS-rated, AAA notes that total $267 million.
The U.S. Education Department, citing "inaccurate representations" to student-loan borrowers, will end debt-collection contracts with Navient and four other companies.
The Australian bank will issue the notes in U.S. dollar denominations via SMART ABS Series 2015-1USTrust, according to an offering circular.
Volkswagen priced an upsized $1.45 billion auto lease securitization and Hyundai is prepping to launch $964 million of securities backed by the asset class.
Regulation AB governs registration, reporting and disclosure requirements for all things asset-backed. The Securities and Exchange Commission appears to be ready to update it significantly, but, nearly four years after changes were originally proposed, its not clear exactly what the Commission will do.
The swelling trillion-dollar student loan market is missing key data and regulations necessary to head off another financial crisis, according to Rohit Chopra, the Consumer Financial Protection Bureaus top official in charge of dealing with student loans.
The proposal would introduce dissemination of trade prices for securities ranging from highly liquid credit card and auto ABS to smaller and more esoteric deals in asset classes such as time shares, to commercial mortgage-backed securities (CMBS) and highly structured CDOs and collateralized loan obligations.
Overall issuance growth will moderate in 2014, Fitch Ratings' managing director for asset backed securities says in the firm's outlook.
Direct exposure to either J.C. Penney or Sears is typically highest in seasoned deals where there are only a small number of loans remaining, and one is secured by a retail property.
Vice President of Regulatory Compliance
Firm: Clayton Holdings
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The first deal of 2015 showed that investors want exposure to loans that are anything but the safest bets.Current Issue