Ford sells ABS in unique fashion

Newswire

By Shankar Ramakrishnan Incessant demand for asset backed securities is allowing issuers to innovate with the methods of deal distribution. On Wednesday, Ford Motor Credit used a unique approach to distribute its US$1.34bn ABS backed by prime auto loans - it cut off the process of price whispers and invited orders based on the price guidance for different tranches. In a typical ABS, issuers usually sound out investors with a price whisper for the different ...

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