Ford takes up auto primary challenge

By Tom Porter
16 Oct 2014

With not enough bonds to go around and the European Central Bank throwing money at their asset class, Europe’s ABS issuers have had precious little to worry about in the primary market of late. But the market widened across the board this week amid a sharp global sell-off, and, as a result, Ford Credit Europe Bank will face a tougher market for its Globaldrive German auto ABS transaction next week.

FCE Bank hired Crédit Agricole, Deutsche Bank, HSBC and Royal Bank of Scotland as joint lead managers for its second German deal of the year on Tuesday, which will place slightly smaller class 'A' and class 'B' tranches with investors than the issuer’s last transaction in May.

The ...

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