who was looking for info on carmax abs? they have a new issue today.
grover33 Wrote: ------------------------------------------------------- > who was looking for info on carmax abs? they have > a new issue today. I was looking for carmax abs… how did u catch wind of it ? bloomberg?
What are you looking for? Looks like A tranche fixed kind of stuff is coming L+50 area, floating a hair tighter. B is out at L+125, C @ 225… A specific structure you are looking for? Im not an ABS guy by nature, so take it easy on me.
I was trying to get pricing data. My assumption was that the company will have to take a lower gain-on-sales proceeds from the upcoming securitization as the spread between the rate they were charging their customers and funding rate (Libor + XYZ) would widen. I am not an ABS expert by a large margin. Do you know if pricing has deteriorate from last issue (~ april i believe). Thanks
oh man, i don’t know. sorry. i just stumbled on this one today. not a market i follow closely at all. Im sure it has to some degree, but that is only a hunch.
Thanks. Very informative information.
Hi Grover23, These are the historical data that I was able to pull. Is it me or does it look like pricing has deteriorate substantially? Maybe I am reading it wrong? Again, thanks for all your help. 23May07 CARMAX 07-2 (CARMX) 760mm Auto via BAS/WB. Co"s: CS/JPM Setts: 6/5 Cls Size (MM) MDY/S&P WAL Wndw E-Fnl L-Fnl Bench Px/Gd Sprd A-1 $146.00 P-1/A-1+ 0.32 6 mos 1/08 07/08 Int Lib -4a +4 A-2 180 Aaa/AAA 0.95 9 mos 10/08 1/10 EDSF -0a -0 A-3 276 Aaa/AAA 2.1 19 mos 5/10 12/11 Int Swp +2a +4 A-4 114.3 Aaa/AAA 3.43 9 mos 2/11 11/12 Int Swp +10a +10 B 26.6 A2/A 3.69 1 mo 2/11 3/13 Int Swp +20a +20 C 17.1 Baa3/BBB 3.69 1 mo 2/11 11/13 Int Swp +40a +45 ------- 23Jan07 Carmax Auto Trust 2007-1 (CARMX) 600mm Auto via BAS/JP Co"s: CS, WS Setts: 2/01 Cls $Amt-mm Mdy/S&P WAL WNDW ExpFnl LglFnl Bmrk G"dnce Spread YLD A-1 117.000 P-1/A-1+ 0.26 7mo 08/07 02/08 I Lbr -5/-4 - 5 bp 5.3112 A-2 200.000 Aaa/AAA 1.10 15mo 10/08 03/10 EDSF + 0 a - 1 bp 5.369 A-3 160.000 Aaa/AAA 2.26 15mo 12/09 07/11 SWPS + 4-5 + 4 bp 5.306 A-4 99.170 Aaa/AAA 3.37 11mo 10/10 06/12 SWPS + 9-10 +10 bp 5.307 B 19.727 A2/A 3.71 1mo 10/10 10/12 SWPS +Low 20s +20 bp 5.402 C 13.650 Baa3/BBB 3.71 1mo 10/10 07/13 SWPS +L/M 40s +40 bp 5.602
yes, this is today’s. Cls Amt($mm) Rtgs(M/S) WAL E.F. L.F. Bmrk/Level A-1 100.000 P-1/A-1+ 0.26 03/08 09/08 IntL + 12 area A-2* [146.000] Aaa/AAA 0.95 03/09 07/10 EDSF + 40 area A-2* [146.000] Aaa/AAA 0.95 03/09 07/10 1m L + High 20s A-3* [132.000] Aaa/AAA 2.05 06/10 12/11 SWPS + Mid 50s A-3* [132.000] Aaa/AAA 2.05 06/10 12/11 1m L + 40 area A-4* [90.750] Aaa/AAA 3.26 05/11 02/13 SWPS + High 60s/70 A-4* [90.750] Aaa/AAA 3.26 05/11 02/13 1m L + Mid 50s B 20.000 A2/A 3.66 05/11 07/13 SWPS + 125 area C 11.250 Baa3/BBB 3.66 05/11 03/14 SWPS + 225 area