The market for asset-backed securities from the automotive sector remains busy, with Ally Auto Receivables Trust offering a $970.6 million bond that is scheduled to price later this week, according to a person familiar with the matter Tuesday.

The bond, dubbed ALLYA 2010-4, has six tranches. It is joint led by Barclays Capital, Bank of America Merrill Lynch and BNP Paribas.

On Monday, CarMax Auto Owner Trust came with a $650 million bond scheduled to price later this week. Price guidance on the bond is out: the largest tranche, valued at $202 million has guidance in the range of 40 basis points over Eurodollar synthetic forward or EDSF, a benchmark.

The bond is led by Barclays Capital.

Other recent issuers include German car maker Volkswagen AG (VLKAY, VOW.XE), Ford Motor Co. (F) and Honda Motor Co. (HMC, 7267.TO).

The bulk of asset-backed bonds sold this year--about 60%--have been in the automotive sector.

Issuance in the asset-backed securities market stood at $84 billion as of Oct. 28, according to Citigroup data. Last year at that time, it was $114.8 billion.

-By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227; anusha.shrivastava@dowjones.com
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