FCE Bank, Ford Motor Co.'s European financing arm, is preparing its second securitization of auto loans this year. The size of the deal has not yet been finalized, but London-based bankers say Deutsche Bank and ABN Amro have been tapped as lead managers. Ford's last deal, which was priced in March, weighed in at E800 million. Officials at ABN and Deutsche Bank declined to comment. Asset-backed traders note there continues to be strong demand from investors for high-quality consumer paper. Consumer ABS spreads continue to tighten versus non-consumer paper and collateralized debt obligations, they add.
Ford Europe Revs Up Securitization