As Of               Filer                 Filing     As/For/On Docs:Pgs              Issuer               Agent

 6/06/06  HSBC Auto Receivables Corp        8-K{1,9}    6/01/06    2:44                                     Merrill Corp-MD/FA

Document/Exhibit                   Description                      Pages   Size 

 1: 8-K         Current Report of Material Events or Corporate      HTML     22K 
                          Changes                                                
 2: EX-1.1      Underwriting Agreement                              HTML    217K 

SECURITIES AND EXCHANGE COMMISSION

 

Washington, D.C. 20549

 

Form 8-K

 

CURRENT REPORT

 

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported)

June 1, 2006

 

HSBC Auto Receivables Corporation

(Exact name of registrant as specified in its charter)

 

United States (State or Other Jurisdiction of Incorporation)		333-131714 (Commission File Number)				36-4220459 (I.R.S. Employer Identification No.)
c/o HSBC Finance Corporation Attention: Michael J. Forde 2700 Sanders Road Prospect Heights, Illinois				60070
(Address of Principal Executive Offices)				(Zip Code)

 

Registrant’s telephone number, including area code (847) 564-5000

 

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

o      Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

o      Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

o      Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

o      Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Item 1.01                                                 Entry into a Material Definitive Agreement

 

Description of the Securities and the Auto Loans

 

The Registrant, as Depositor, and HSBC Finance Corporation, as Sponsor (“HSBC Finance”), plan to cause HSBC Automotive Trust (USA) 2006-1 (the “Trust”), a newly formed issuing entity, to issue $246,600,000 5.27575% Class A-1 Notes, $227,000,000 5.40% Class A-2 Notes, $352,000,000 5.43% Class A-3 Notes and $118,718,000 5.52% Class A-4 Notes (collectively, the “Notes”) on June 8, 2006. The Notes will be registered under the Registration Statement filed by the Registrant with the Securities and Exchange Commission under the file number 333-131714.

 

The Notes, which evidence indebtedness of the Trust, the assets of which consist primarily of retail installment sales contracts secured by new and used automobiles, light duty trucks and vans financed thereby, will be sold to HSBC Securities (USA) Inc., ABN AMRO Incorporated, Banc of America Securities LLC and Deutsche Bank Securities Inc. (the “Underwriters”), pursuant to an Underwriting Agreement attached hereto as Exhibit 1.1, dated as of June 1, 2006 (the “Underwriting Agreement”), among HSBC Finance, HSBC Auto Receivables Corporation (or the Registrant), HSBC Auto Finance Inc., HSBC Auto Credit Inc. and HSBC Securities (USA) Inc., as representative of the Underwriters. This Current Report on Form 8-K is being filed in connection with the execution of the Underwriting Agreement to satisfy an undertaking to file copies of certain agreements executed in connection with the issuance of the Notes. A form of the Underwriting Agreement was filed as an Exhibit to the Registration Statement.

 

Item 9.01.                                              Financial Statements, Pro Forma Financial Information and Exhibits.

 

(a)                                  Not applicable

 

(b)                                 Not applicable

 

(d)                                 Exhibits:

 

1.1                                 Underwriting Agreement, dated as of June 1, 2006, among HSBC Finance, as Servicer, HSBC Auto Receivables Corporation, as Depositor, HSBC Auto Finance Inc., HSBC Auto Credit Inc. and HSBC Securities (USA) Inc., as representative of the Underwriters.

 

2