Dow Jones Newswires | Navistar Financial Owner Trust is in the market with a $919 million auto sector bond, according to a person familiar with the matter.

The bond, dubbed NAVOT 2010-A, has five tranches and is expected to price this week. It is backed by retail truck, bus and trailer loans. Joint leads on the bond include Credit Suisse, Deutsche Bank and J.P. Morgan.

Other asset-backed bonds on offer this week include Nissan Auto Lease
Trust with its $750 million bond and Santander Drive Automobile
Receivables Trust with a $1 billion bond.

Issuance of asset-backed deals has been healthy so far this year,
despite the end of a Federal Reserve program and the potential for
changes in accounting and other regulatory rules. As of May 18, $47.76
billion in new deals have been sold, according to Barclays Capital. Last
year, that figure was $35.53 billion.

Under the Term Asset-Backed Securities Loan Facility, or TALF, investors
procured low-cost loans from the central bank to buy newly created
high-quality consumer loan-backed bonds. More than $100 billion in such
deals were sold. TALF ended in March.

Another asset-backed deal in the market this week is a student
loan-backed $817.7 million bond from the Higher Education Loan Authority
of the State of Missouri.