World Omni Auto Receivables Trust 2024-B issues $1.18B in asset-backed notes

WORLD OMNI AUTO RECEIVABLES LLC

Underwriting agreement with TD, Barclays, BofA, and Truist for $1,176,800,000 notes.
Classes: A-1 $230M at 5.534%, A-2a $200M at 5.48%, A-2b $228.5M floating, A-3 $428.5M at 5.27%, A-4 $89.8M at 5.23%, B $37M at 5.38%, C $18.5M at 5.47%.
Expected issuance May 22, 2024; collateral is motor vehicle retail installment sale contracts.
Class B and C notes not publicly offered; initially retained by sponsor or affiliates.
Purchase price: $1,171,300,558.69 cash plus $163,809,182.41 capital contribution.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WORLD OMNI AUTO RECEIVABLES LLC entered into Underwriting Agreement with TD Securities (USA) LLC, Barclays Capital Inc., BofA Securities, Inc. and Truist Securities, Inc. valued at $1,176,800,000 (effective 2024-05-14).

Action: entry
Agreement: underwriting
Counterparty: TD Securities (USA) LLC, Barclays Capital Inc., BofA Securities, Inc. and Truist Securities, Inc.
Value: $1,176,800,000
Effective: 2024-05-14

Exact text from the filing

On May 14, 2024, World Omni Financial Corp. (“World Omni”) and World Omni Auto Receivables LLC (the “Depositor”) entered into an Underwriting Agreement with TD Securities (USA) LLC, Barclays Capital Inc., BofA Securities, Inc. and Truist Securities, Inc., on behalf of themselves and as representatives of the several underwriters (collectively, the “Underwriters”), whereby each of the Underwriters has severally agreed to purchase $1,176,800,000 aggregate principal balance of various classes of Asset-Backed Notes to be issued by World Omni Auto Receivables Trust 2024-B

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Source: SEC EDGAR

accession 0001104659-24-062482

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