This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.Here is a sample of this item:AmeriCredit Announces $227 Million Prime/Near-Prime Asset-Backed Securitization 2009-10-30 15:34 ET - News Release
FORT WORTH, Texas -- (Business Wire)
AMERICREDIT CORP. (NYSE: ACF) today announced the pricing of a $227
million offering of automobile receivables-backed securities under the
AmeriCredit Prime Automobile Receivables Trust (APART) platform, which
represents loans originated through distribution channels the company
has suspended. The lead managers are J.P. Morgan, RBS and Wells Fargo
Securities. AmeriCredit will use the net proceeds from this
securitization transaction to pay off debt outstanding on the Company’s
prime/near-prime warehouse facility.
The securities will be issued via an owner trust, AmeriCredit Prime
Automobile Receivables Trust 2009-1, in six classes of Notes:
Note Class
|
|
Amount
|
|
Average Life
|
|
Price
|
|
Interest Rate
| |
A-1
| |
$58,000,000
| |
0.25 years
| |
100.00000
| |
0.33063%
| |
A-2
| |
67,000,000
| |
0.99 years
| |
99.99519
| |
1.40%
| |
A-3
| |
48,000,000
| |
1.99 years
| |
99.98106
| |
2.21%
| |
A-4
| |
28,726,000
| |
2.88 years
| |
99.97429
| |
2.90%
| |
B
| |
13,988,000
| |
3.42 years
| |
99.98596
| |
3.76%
| |
C
| |
11,779,000
| |
3.43 years
| |
99.97876
| |
4.99%
| | |
$227,493,000
| | | | | | | | | | | | | | |
|
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