Scroll down for latest news
ABN AMRO and Deutsche Bank successfully close EUR
733 mln ‘Globaldrive Series E’ securitisation for Ford
Credit Europe
Ford Credit Europe Bank plc (FCE Bank) has successfully
closed ‘Globaldrive Series E’, a EUR 733 mln securitisation
of auto receivables via Joint Lead Managers ABN AMRO and Deutsche
Bank.
This is FCE Bank’s fifth securitisation transaction
under the USD 5 bln ‘Globaldrive’ programme and the
first multi-jurisdictional issue involving Spanish and Italian auto
loan receivables originated by their respective local branches.
The transaction is part of FCE Bank’s funding
strategy to employ securitisation as one of its key funding tools.
The successful placement demonstrates the attractiveness of the
‘Globaldrive’ programme to investors, even under challenging
market conditions.
The Senior Notes (EUR 689 mln, rated AAA/Aaa by S&P
and Moody's, weighted average life of 3.99 years) and Junior Notes
(EUR 44 mln, rated A/A1 by S&P and Moody's, weighted average
life of 5.23 years) were priced at 3-M-Euribor+45bp and at 3-M-Euribor+75bp
respectively.
The transaction attracted investors from Europe and
the US.
Receive the aptly named update service from Securitizability.com:
Copyright Securitizability.com 2005 ABOUT US
Disclaimer_____ Contact___
Privacy Statement
|
