First Investors prices first subprime auto since 2014

By Ryan Bolger
16 Apr 2015

First Investors’ launched its first subprime auto securitization following a revamp of its underwriting practices at the end of last year.

The issuance was priced on the wider side of guidance at 75bp over eurodollar forwards for the Class A-2 notes, which have a weighted average life of 1.1 years and make up $91m of the $223.64m deal. That equated to a yield of 1.215%.

The notes are backed ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial