|
FCE Bank plans German auto loan ABS -lead
March 3. 2008
FCE Bank, a British-based financing unit of U.S. automaker Ford (F.N: Quote, Profile, Research), plans to sell 500 million euros ($758.5 million) of bonds backed by German auto loans, an official at one of the banks managing the sale said on Monday.
The deal, named "Globaldrive," includes a 464.7 million euro tranche, which is rated triple-A by both Moody's Investors Service and Standard & Poor's, the official said.
Fortis Bank and HSBC are joint arrangers and lead managers for the sale.
Following are details of the deal's three tranches:
CLASS SIZE RATINGS
MLN, EURO MOODY'S/S&P
A 464.7 Aaa/AAA
B 20 Aa3/A
C 6.5 Baa1/BBB
By Maya Thatcher and Natalie Harrison, Reuters.com
Source: http://www.reuters.com/article/newIssuesNews/idUSL0326216920080303
|
