Ford Motor $2.95 billion TALF auto ABS deal launched

Mar 19th, 2009 - Reuters

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NEW YORK (Reuters) - Ford Motor (F.N) launched its $2.95 billion asset-backed securities offering backed by auto loans under the Federal Reserve's new Term Asset-Backed Securities Loan Facilities on Thursday, market sources said.

The deal includes "A1+" rated notes expected to price at 50 basis points over Libor and a "AAA"-rated one-year note issue expected to price at a spread of 200 basis points over eurodollar swap futures. Both were launched in line with initial price guidance for the issues, market sources said.

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