GMAC units sell combined $1.2 bln auto ABS deal

Newswire

NEW YORK, Oct 26 (Reuters) - General Motors Acceptance Corp. on Thursday sold $1.2 billion of securities backed by retail auto loans and leases by three of its units, a market source said. The deal, "Pinnacle Capital Asset Trust 2006-A," is backed by pools of prime and non-prime auto loans originated or acquired by three separate units of Basic Credit Holding, a direct subsidiary of GMAC. It is the first Rule 144a private placement transaction collateralized by the assets of all three ...

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