New Issue-Bear Stearns prices $2 bln car loan ABS

Newswire

NEW YORK, Oct 28 (Reuters) - Bear Stearns Cos. priced on Thursday about $2 billion in asset-backed securities supported by loans made by the finance arms of the Big Three carmakers, a source close to the deal said. Bear Stearns was the deal's lead underwriter and book manager, the source said. The following are the terms and conditions of "Whole Auto Loan Trust (WALT) 2004-1:" **** Class A1 Issue Amount $548 million Average Life 0.25 year Price Spread 3-month Libor minus 1 bp ...

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