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CarMax Brings TALF-Eligible Auto ABS April 02, 2009

-- Olivia Thetgyi

CarMax Business Services is coming out with an auto loan securitization eligible as collateral for the Term Asset-Backed Securities Loan Facility. The pricing date of the $735 million CarMax Auto Owner Trust 2009-1 is expected to coincide with TALF’s April subscription date, according to a Securities and Exchange Commission filing.

CarMax Auto Owner Trust 2009-1 is backed by a pool of prime auto loans, of which 98.21% are for used vehicles. CarMax is based in Richmond, Va., and is the nation’s largest retailer ...

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