At least six auto ABS sponsors are set to bring deals to market next week, kicking off a healthy flow of issuance for July, following a post-July 4 dry spell.
No auto deals have been priced so far this month. Sponsors readying new deals range from prime auto issuers like Santander to subprime issuers Exeter and Prestige.
Santander Consumer is pre-marketing an $850m deal backed by prime auto lease receivables. The $92m class ‘A-1’ notes received a preliminary rating