GMAC is issuing its eighth asset-backed UK transaction in a £385.8 million (US$481.3 million) bond offering backed by individual and small-business vehicle lease contracts.

The securitization follows just weeks after parent General Motors agreed to the sale of its historic Vauxhall brand line of vehicles, which comprised the bulk of securitized assets in GMAC’s two most recent E-CARAT platform ABS deals.

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