Ford’s demand untouched by volatility, spreads drop

By Tom Porter
23 Oct 2014

Ford Credit Europe Bank’s second Globaldrive German auto ABS of the year was priced this week with a similar level of demand to its first, and at lower spreads, as secondary trading in the European ABS market remained cautious.

Ford attracted an over-subscription of around two times for its €475m of triple-A senior notes with 8.7% credit enhancement and a 2.08 year weighted average life. That allowed leads Crédit Agricole, Deutsche Bank, HSBC and Royal Bank of Scotland to price the notes in line with revised guidance ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial