AmeriCredit Corp. (ACF) Thursday revealed the pricing of a $600 million offering of automobile receivables-backed securities. AmeriCredit uses net proceeds from securitization transactions to provide long-term financing of its receivables. The 2010-1 transaction would have initial credit enhancement of 15.00%, consisting of a 2.00% cash deposit and 13.00% overcollateralization. Total required enhancement will build to 23.25% of the then-outstanding receivable pool balance, which includes the initial 2.00% cash deposit.
For comments and feedback: editorial@rttnews.com