Headline risk doesn’t faze CarFinance, ACAR

By Matthew Scully
30 Jul 2014

CarFinance and American Credit Acceptance this week both sold subprime auto ABS at cheaper levels than any deal they have issued over the past two years, despite an increase in headline risk.

CarFinance sold on Tuesday a $230.5m subprime ABS with the help of lead structurer Deutsche Bank. The senior, 1.58 year noted were sold at 90bp over EDSF, exactly in line with guidance, and 25bp tighter than a previous deal in March, sources ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial