Ford Motor (NYSE:F)
Historical Stock Chart
3 Anos : February 2009 para February 2012
 Ford Motor Co. (F) is in the market with a $1.027 billion deal, backed by auto loans.
The deal, called FORDO 09-E, is not eligible for financing under a Federal Reserve program that offers investors cheap loans to buy newly created consumer loan-backed deals.
Ford's deal is expected to price on Wednesday. Joint leads are Barclays Capital, JPMorgan and Morgan Stanley.
The deal has four tranches, of which three are rated triple-A.
The Fed has supported the securitization market through its Term Asset-Backed Securities Loan Facility, or TALF, launched in March. Total issuance this year stands at $131.41 billion, according to a note from Deutsche Bank. Of this, more than $90 billion has been eligible for TALF funds.
Ford was one of four issuers who sold TALF-eligible deals in March, when the program was first launched. In June and July, it sold a total of three auto loan-backed deals that were all TALF-eligible. It returned to the market again in September, selling a $2.074 billion auto loan-backed deal that was also eligible for TALF.
Most recently, in October, Ford sold a $1.5 billion dealer floorplan-backed deal that was eligible for TALF.
Auto loan-backed deals comprise the bulk of issuance so far this year at $55.41 billion, or 42.2%, the Deutsche Bank note says. Credit card loan-backed deals are at $41.56 billion, or 31.6% of total issuance. Student loan-backed deals are a distant third at $15.85 billion, or 12.1%.
-By Anusha Shrivastava, Dow Jones Newswires; 212-416-2227; anusha.shrivastava@dowjones.com
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