CarMax ABS Features Company’s First Floating-Rate Tranches

-- Leo Shvartsman

CarMax Business Services’ most recent transaction features some floating-rate tranches, a first for the company. “Investor demand warranted the addition of floating rate tranches to the capital structure,” said James Brinkley, v.p. at underwriter Wachovia Securities. Brinkley added that the issuer’s willingness to come to market ...