Ford Credit Canada Limited Announces Canadian Lease Securitization
Transaction


    


    
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<p>DEARBORN, Mich., <span class="xn-chron">April 1</span> /CNW/ -- Canadian Road Leasing Company, a wholly owned subsidiary of Ford Credit <span class="xn-location">Canada</span>, completed a lease securitization transaction on <span class="xn-chron">March 29, 2010</span>, receiving proceeds of approximately <span class="xn-money">$270 million</span> (Canadian).</p>
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<p>This lease securitization transaction included the lease of a portfolio of vehicles (subject to the existing retail leases) by Canadian Road Leasing Company to a special purpose trust and a one-time lease prepayment by the special purpose trust to Canadian Road Leasing Company.  The lease prepayment was financed by the trust through borrowings of approximately <span class="xn-money">$270 million</span> (Canadian) from a third-party private investor.</p>
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<p>Under the lease securitization transaction, Canadian Road Leasing Company will continue to own the vehicles that are the subject of such transaction and will be responsible for servicing the existing retail leases of such vehicles.</p>
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<p>Both Canadian Road Leasing Company and the special purpose trust will be consolidated with Ford Credit <span class="xn-location">Canada</span> for accounting purposes.  Ford Credit <span class="xn-location">Canada</span> is an indirect wholly owned subsidiary of Ford Motor Credit Company.</p>
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<p>As a consequence of such consolidation, the third-party indebtedness incurred by the special purpose trust with respect to the lease securitization transaction will be reflected on the consolidated financial statements of Ford Credit <span class="xn-location">Canada</span> as a liability of approximately <span class="xn-money">$270 million</span> (Canadian), reducing over the term of the lease securitization transaction.</p>
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<p>Canadian Road Leasing Company will lend the immediately available proceeds to Ford Credit <span class="xn-location">Canada</span>.  Ford Credit <span class="xn-location">Canada</span> expects to use the available proceeds to repay indebtedness owing to Ford Credit International, Inc.</p>
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<p>Ford Motor Credit Company is one of the world's largest automotive finance companies and has provided dealer and customer financing to support the sale of Ford Motor Company products since 1959.  Ford Credit is an indirect wholly owned subsidiary of Ford Motor Company.  For more information, visit <a href="http://www.fordcredit.com">www.fordcredit.com</a>.</p>
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For further information: For further information: Media: Margaret Mellott, +1-313-322-5393, mmellott@ford.com; Fixed Income Investment Community: David Dickenson, +1-313-621-0881, ddickens@ford.com Web Site: http://www.fordcredit.com

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FORD MOTOR CREDIT COMPANY

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