Ford Motor Credit Co. has filed a shelf registration for a new auto receivables securitization deal using the Ford Credit Auto Owner Trust.
The capital structure will include class A-1 Notes, class A-2 Notes, class A-3 Notes, class A-4 Notes, class B Notes, class C Notes, and class D Notes. The securitization is backed by pool of new and used car, light truck and utility vehicle receivables purchased by Ford Credit from dealers.
The shelf registration statement can be accessed via the below:
Spreads ranging from 16-18 basis points over the three-month, interpolated yield curve on the P1 (Moody's) and F1+ (Fitch) notes, to 160 to 170 over the benchmark on the class D notes.
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The notes will price against Treasurys, with spreads expected to fall between 85 and 90 basis points over the benchmark.
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