Buyers drive ABS funding costs up for Navistar,Nissan

Newswire

By Nancy Leinfuss NEW YORK, May 21 - U.S. asset-backed debt issuers sold $3.5 billion of securities at more costly funding levels this week as wary buyers demanded more spread premium to hedge potential spillover effects from Europe's debt crisis. Limited supply and plenty of demand largely have benefited ABS issuers this year, allowing securitizers of consumer debt to test tighter spread levels continually with every pricing through last week. While the ABS market had remained largely ...

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