The asset-backed securitization market is set for a $2.4 billion infusion of auto-backed issuance.
This week, three new securitizations are slated to come to market: an $819 million lease deal from Ford Credit, a $1 billion loan deal from American Honda Finance, and a $600 million rental car deal from Avis Budget Car Rental.
So far this year, auto-backed deals have comprised more than half of all ABS issuance — $47.5 billion of the total $80.7 billion, according to Citigroup data.
The ABS market has effectively recovered from the liquidity freeze in late 2008, and the auto sector has set itself apart as the asset class of choice among investors.
