Private auto deals dominate sparse ABS pipeline
Hyundai Capital America and Consumer Portfolio Services (CPS) each priced private, 144A offerings on Tuesday, while a public deal from Ford is slated to enter the market in the coming week in what has been an otherwise slow start to 2017 primary issuance.
The Hyundai and CPS transactions were “significantly oversubscribed”, with leads on the Hyundai offering increasing the deal size to meet demand, according to an ABS banker following the two deals.“There’s been a lack of supply and a lot of demand,” the banker said, adding that the light ...
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