The Ford Motor Co. recently came to market with the third auto-loans deal from its Globaldrive program, but the first to be backed by U.K. receivables.

Called Globaldrive U.K., the GBP250 million ($356.8 million) transaction securitizes around 72,000 loans with an outstanding value roughly equivalent to the bonds issued. Barclays Capital acted as lead manager on the transaction with Chase Manhattan, Morgan Stanley Dean Witter and Merrill Lynch brought in as co-leads.

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