AMERICAN HONDA RECEIVABLES LLC 8-K

What Happened

• AMERICAN HONDA RECEIVABLES LLC filed an 8‑K reporting entry into material agreements in connection with the issuance of Class A-1, A-2a, A-2b, A-3 and A-4 asset‑backed notes (the “Underwritten Notes”) of the Honda Auto Receivables 2026‑1 Owner Trust. The notes were issued on the Closing Date, February 18, 2026, and are described in the Final Prospectus dated February 10, 2026.
• To effect the securitization, American Honda Finance Corporation (AHFC) transferred retail installment sale contracts and installment loan contracts related to new and used Honda and Acura vehicles (the “Receivables”) to American Honda Receivables LLC (AHR LLC) and the Issuer, and several transaction documents were executed (purchase, sale & servicing, trust, indenture and related agreements).

Key Details

• Closing Date / Issuance: February 18, 2026; Final Prospectus dated February 10, 2026.
• Notes: Class A‑1, A‑2a, A‑2b, A‑3 and A‑4 asset‑backed notes issued by Honda Auto Receivables 2026‑1 Owner Trust.
• Sponsor/Servicer: American Honda Finance Corporation (AHFC) transferred receivables to AHR LLC and will serve as servicer/sponsor; AHFC will initially retain at least 5% (by initial principal amount) of each of the listed Class A note classes.
• Agreements filed: Receivables Purchase Agreement, Amended & Restated Trust Agreement, Sale & Servicing Agreement, Asset Representations Review Agreement, Indenture and Administration Agreement (effective as of the Closing Date).

Why It Matters

• This 8‑K documents a securitization transaction that moves auto loan receivables off AHFC’s balance sheet into a trust and funds those assets by issuing asset‑backed notes—an important source of funding/liquidity for the lender.
• AHFC’s stated initial retention of at least 5% of each note class is a material disclosure about retained risk and alignment with risk‑retention practices; investors should review the Final Prospectus and transaction documents for note terms, credit enhancement, payment priorities and other risk factors before evaluating or purchasing the notes.