Prestige To Sell $222M Asset-Backed Bond

Prestige Auto Receivables Trust will raise $222 million in a sale of bonds.

Prestige Auto Receivables Trust will raise $222 million in a sale of bonds, The Wall Street Journal reports. The bond will have six tranches.

The asset-backed bond is being offered through the private Rule 144a market. JP Morgan & Chase is the sole lead manager on the transaction.

Click here for the story from The Wall Street Journal.