Ford Motor Co. is securitizing its second round of German auto loans this year in a €541.7 million pool of both private and commercial borrower receivables tied to significant balloon payments.

Globaldrive Auto Receivables 2016-B B.V. will issue two tranches of notes sized at €498.3 million (Class A) and €16.2 million (Class B), each with a floating rate structure. Moody’s Investors Service has assigned a provisional ‘Aaa’ rating to the Class A notes and ‘Aa2’ to the ‘B’ notes.

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