DaimlerChrysler N.A. Holdings unveiled last week its new wholesale dealer floorplan issuance shelf, titled DaimlerChrysler Master Owner Trust. The new vehicle replaces the more familiar CARCO issuance shelf and offers the issuer overcollateralization savings of 122 basis points versus the CARCO trust.

Last Wednesday, DaimlerChrysler sold $2 billion of floorplan loan-backed notes through bookrunner Morgan Stanley. The single-tranche three-year offering, rated triple-A by all three rating agencies, priced at par with a coupon of six basis points over one-month Libor.

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