Newcomer Avid heads to subprime auto ABS market
Subprime auto lender Avid Acceptance LLC is lining up an inaugural securitization as the 2018 new issue pipeline builds and as industry observers anticipate the ABS market skewing towards “deep subprime” issuers.
An Avid spokesperson confirmed the deal is Avid’s first securitization but declined to disclose the size of the offering. KeyBanc is leading the deal, according to documents filed with the Securities and Exchange Commission (SEC) before the long weekend.Avid caters to customers with “open and discharged Chapter ...
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