GMAC is planning a U.K. auto loan securitization, according to presale reports.

The deal, E-Carat 4, will offer investors two tranches of bonds totaling £100 million ($163.52 million). The class A notes rated ‘Aaa’ by Moody’s Investors Service and ‘AAA’ by DBRS has 8.5% credit enhancement and is due Sept 2022. The class B tranche is rated ‘Aa2’/’AA’, has credit enhancement at 5.0% and is due September 2022.

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