AmeriCredit Announces $200 Million Asset-Backed Securitization
AMERICREDIT CORP. (NYSE: ACF) announced today the pricing of a $200 million offering of automobile receivables-backed securities under the AmeriCredit Automobile Receivables Trust (AMCAR) platform, which primarily includes subprime automobile loan contracts. The lead manager on the transaction is RBS. Co-managers are Credit Suisse, Deutsche Bank Securities, J.P. Morgan and UBS Investment Bank. Net proceeds from securitization transactions will be used to provide long-term financing of receivables.
The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2010-B, in three classes of Notes:
|Note Class||Amount||Average Life||Price||Interest Rate|
The weighted average coupon on the Notes to be paid by AmeriCredit is 2.2%.
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