Ford increases ABS issuance as oil plunges lower
Ford launched its first auto ABS deal of the year on Tuesday. The issuance was a lot larger than expected and priced on the tighter side of guidance, amid a boost in car sales prompted by the slide in oil prices.
Ford Credit Auto Owner Trust sought to issue just $1.351bn in notes, backed by a revolving pool of new and used automobile, light-truck and utility-vehicle loans. The deal was eventually increase the deal to $1.682bn.The senior tranche of notes, which accounts for the overwhelming majority of the ...
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