Fund managers drive Ally Financial fixed rate auto ABS demand

Real money interest in Ally Financial’s fixed rate UK auto ABS, E-CARAT, this week outstripped demand from bank treasuries, which have been the backstop for recent floating rate deals.

  • 14 Dec 2012

Ally Financial, formerly General Motors Acceptance Corporation, decided on Thursday last week to proceed with the deal, its debut UK auto ABS, in fixed rate format.

Leads Lloyds, RBC and Royal Bank of Scotland began taking indications of interest at initial price thoughts of 100bp area over the ...

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