AMERICAN HONDA RECEIVABLES LLC 8-K

What Happened

• American Honda Receivables LLC (AHR LLC) and American Honda Finance Corporation (AHFC) entered an Underwriting Agreement on February 10, 2026, with MUFG, J.P. Morgan, TD Securities and Wells Fargo (representing the underwriters) to sell notes issued by Honda Auto Receivables 2026‑1 Owner Trust (the Issuer).
• The offering comprises multiple Class A notes with an initial principal amount of $2,421,053,000 and scheduled issuance on or about February 18, 2026 (the Closing Date). AHFC will retain at least 5% (by initial principal) of each Class A tranche.

Key Details

• Underwriting Agreement date: February 10, 2026; expected Closing Date: on or about February 18, 2026.
• Notes and coupon details (classes announced): Class A‑1 3.817%, Class A‑2a 3.71%, Class A‑2b SOFR + 0.34%, Class A‑3 3.78%, Class A‑4 3.86%.
• Total initial principal amount: $2,421,053,000. AHFC retains ≥5% of each Class A series.
• Related agreements to be entered on the Closing Date include the Receivables Purchase Agreement, Sale and Servicing Agreement, Indenture, Administration Agreement, Amended and Restated Trust Agreement, and an Asset Representations Review Agreement; the Issuer is a Delaware statutory trust formed Dec 10, 2025.

Why It Matters

• This filing documents a securitization (asset‑backed securities offering) of retail auto loans tied to Honda and Acura contracts — a financing move that raises roughly $2.42 billion of funding backed by those receivables.
• For investors, the transaction is relevant if you follow ABS markets, credit exposure to auto loans, or the funding practices of AHFC; AHFC’s 5% retention indicates retained economic interest in the deal.
• This 8‑K is an offering and transaction disclosure, not an earnings or corporate governance announcement; any market impact will be primarily felt in fixed‑income/ABS markets rather than equity results.