GM Financial is premarketing a potential $705 million auto lease asset-backed securitization, according to Thomson Reuters.
A GMF spokeswoman would not provide confirmation or comment regarding the report. This would be the first ever auto lease ABS by GMF.
Deutsche Bank is expected to lead the deal, along with co-management from JP Morgan Chase. According to Reuters, the deal is expected to be announced early this week.
GMF said in its year-end 2013 earnings report released in February that its operating lease originations last year totaled $2.8 billion, compared to $1.3 billion in 2012.Like This Post