Ally creates Irish SPE, ups risk profile for latest deal
Ally Bank has created an Irish special purpose entity (SPE) for a new prime auto from a new loan shelf titled Juniper Receivables DAC, which is backed by loans with longer terms and higher risk collateral.
The single-tranche $530m deal, which is being led by Citi, has been assigned preliminary ratings of Baa3 by Moody’s.The loans come from the same prime loan portfolio backing Ally’s other ABS shelf, Ally Auto Receivables Trust (AART), though the loans in the Juniper deal have a ...
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