Ford Motor Co. is in the market with a $1.027 billion auto loan ABS called FORD Auto Owner Trust 2009-E or FORDO 2009-E.

The offering is not eligible under the Term ABS Loan Facility or TALF, despite the recent trend of the auto sector taking the lion's share of issuance under the program.

Lead managers on the auto ABS are Barclays Capital, JPMorgan Securities and Morgan Stanley.

The four-tranche offering, three of which are rated in the triple-A rating category, is set to price this Wednesday.

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