Ford is marketing a Canadian dollar denominated auto loan securitization.

The deal, dubbed Ford Auto Securitization Trust’s series 2013-R4, is backed by prime auto loan receivables originated in Canada and is sized at C$704 million ($685 million). Ford was last in the market with a Candian auto loan securitization in 2012.

Standard & Poor’s has assigned preliminary ratings to the deal. The deal is structured with C$655.9 of triple-A rated notes. The subordinate notes on offer include C$20.71 million of ‘AA+’-rated, class B notes; C$13.8 million of ‘AA’-rated, class C notes; and C$13.8 million of ‘A+’-rated, class D notes.

BMO Nesbit, Merrill Lynch Canada, Scotia Capital, TD Securities, CIBS World Market and RBC Dominion Securities are lead underwriters on the deal.

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