USA: Ford offers $2.27 bln auto loan asset-backed debt
Ford Motor Co.'s F finance arm, Ford Motor Credit Co., has been marketing $2.271 billion of asset-backed securities (ABS), supported by car loans, a company official said Monday. The Ford deal will offer four public classes of fixed-rate securities, he said. In premarketing activity, the $995 million AAA-rated Class A3, with a 0.86 year average life, was pegged in the seven basis point area, plus eurodollar futures.
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