Issuers of asset-backed securities are having a good year, with seven having settled eight deals so far in 2010. The total number of Australian ABS deals last year was just five.The latest issue to price is Fleet Partners' FP Turbo Trust 2007-1, a $635 million issue of bonds backed by operating leases, secured by passenger cars, commercial vehicles and equipment.Pricing on the deal, a private transaction, which involved the refinancing of a facility that was first issued in 2007, was not disclosed.This is the second transaction for Fleet Partners this year. Last month, it priced FP Turbo Trust 2010-1, a $178 million issue of bonds backed by novated and finance leases. Pricing on that deal included a 0.3 year tranche priced at 75 basis points over the bank bill swap rate; a 1.5 year tranche, priced at 165 basis points over the swap rate, and a 2.1-year tranche at 275 basis points over the swap rate. Other ABS issuers this year include CNH Australia, Investec Experien, Liberty Financial, Macquarie Leasing, Capital Finance and Avis Budget.Most deals have involved some form of auto finance receivables. The Avis Budget deal involved rental car receivables. Moody's analyst Stephanie Jaeger said that while the number of deals was up on the past couple of years the amounts involved were relatively modest.The biggest ABS deal of the year so far has been Macquarie Leasing's Smart Series 2010-1 US Trust, which raised $641.7 million. This week's Fleet Partners deal, worth $635 million, is the second biggest deal.Liberty Financial's Liberty Series 2010-1 Auto Trust, was the smallest deal, at $90 million.Jaeger said the activity indicated that securitisation remained an attractive funding tool for players in the leasing market if the spreads were right.