USA. ABS Program overview

Asset-Backed Securities are an important funding source of Mercedes-Benz Financial Services USA (MBFS USA). Regularly, MBFS USA issues ABS transactions being secured by receivables from the entity’s retail loan, lease or commercial portfolio.

Retail Loan Securitizations

The so-called MBART program (‘Mercedes-Benz Auto Receivables Trust’) securitizes retail loan contracts which are backed by passenger cars and SUVs from Mercedes-Benz and Smart. The inaugural MBART deal was issued in 2009. Additionally, retail loan contracts of MBFS USA’s commercial portfolio are securitized under the DTRT program (‘Daimler Trucks Retail Trust’) with the first deal being introduced to the market in 2018. The DTRT program contains retail loan receivables for trucking and transportation equipment mainly from the brands Freightliner, Western Star, Thomas Built Buses and Fuso.

Retail Lease Securitizations

In 2009, MBFS USA issued the first MBALT (‘Mercedes-Benz Auto Lease Trust’) transaction. Since then, multiple public and private MBALT deals have been executed. They are all secured by retail lease contracts backed by passenger cars and SUVs from Mercedes-Benz and Smart.

Dealer Floorplan Securitizations

The first transaction under the MBMOT Master Trust structure (‘Mercedes-Benz Master Owner Trust’) was issued in 2012. The receivables transferred to the MBMOT trust are selected from wholesale or floorplan financing contracts, made by MBFS USA to dealerships. These funds are primarily used by dealers to purchase new or used vehicles obtained in the normal course of business for sale or lease to retail buyers.

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