By Adam Tempkin and Charles Williams
NEW YORK, Feb 8 (IFR) - Year-to-date issuance ofasset-backed securities linked to auto and student loans hasalready exceeded last year's impressive totals for the same timeperiod, according to IFR Markets data.
About US$11.1bn of auto ABS has priced since the beginningof the year, compared to US$7.57bn for the same period of 2012.
And US$1.9bn of student loan ABS priced so far, compared toUS$1.3bn last year.
Credit cards, which had a strong resurgence last year, arelagging slightly behind last year's pace, with US$2.45bn issuedyear to date versus US$4.5bn for the same period last year.
US ABS year-to-date issuance is approximately US$20.8bn,data from IFR Markets and Thomson Reuters shows, compared toUS$19bn for the same period last year.
Barclays is currently the number one underwriterwith US$3.2bn and a market share of 15.5%. Citigroup isclose behind with US$3bn and a market share of 14.6%.
The auto sector accounts for the bulk of this year'sissuance with US$11bn. Frequent issuer Ford is also the topissuer in 2013 with its US$1.725bn Ford Credit Floorplan MasterOwner Trust (FORDF) 2013-1. The transaction was jointly led byBarclays, Citigroup, HSBC and RBS.
Meanwhile, after a one-week lull because of the annualAmerican Securitization Forum (ASF) in Las Vegas, new-issue ABSreturned this week as US$5.72bn priced across five assetclasses.
In next week's queue, CNH has mandated RBS (structuringlead), Barclays and Societe Generale as joint leads on anupcoming equipment-loan transaction. Subject to marketconditions, the deal is expected to formally announce on Monday.
The SEC-registered CNH 2013-A is expected to be sized atUS$850m and rated by S&P and Fitch.
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World bonds column...... (Reporting by Adam Tempkin and Charles Williams; Editing byCiara Linnane)
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