AMERICAN HONDA RECEIVABLES LLC Files Prospectus for $2.105B Auto ABS

What Happened

• AMERICAN HONDA RECEIVABLES LLC filed an 8-K on August 6, 2026 announcing a prospectus dated August 4, 2026 that describes the receivables pool and tranche structure for notes issued by Honda Auto Receivables 2026-3 Owner Trust. The prospectus sets out five classes of Class A Asset-Backed Notes with specified aggregate principal amounts and related structure.

Key Details

• Class A-1 Notes: $509,400,000 aggregate principal amount
• Class A-2a Notes: $536,600,000 aggregate principal amount
• Class A-2b Notes: $200,000,000 aggregate principal amount
• Class A-3 Notes: $736,400,000 aggregate principal amount
• Class A-4 Notes: $122,870,000 aggregate principal amount
• Total principal across all Class A notes: $2,105,270,000
• American Honda Finance Corporation will initially retain at least 5% (by initial principal amount) of each of the Class A notes

Why It Matters

• This filing signals a new securitization (sale of auto loan receivables) that will create roughly $2.1 billion of tradable asset-backed notes. Retention of at least 5% by American Honda Finance Corporation means the sponsor will keep a stake in each tranche, which can align the sponsor’s interests with investors and meets common risk-retention practices. Investors should review the prospectus for details on the receivables pool, credit enhancement, payment priority, interest terms and risks before considering exposure to these notes.