Ford Credit Canada Limited Announces Retail Securitization Transaction


    


    
</pre>
<p>DEARBORN, Mich., <chron>Jan. 22</chron> /CNW/ -- Ford Credit <location>Canada</location> Limited announced today that it completed a securitization of a pool of retail conditional sale contracts, receiving immediately available proceeds of approximately <money>$510 million</money> (Canadian).</p>
<p/>
<p>Under the securitization transaction, a master trust sponsored by Ford Credit <location>Canada</location> Limited, Ford Auto Securitization Trust (FAST), purchased a pool of retail conditional sale contracts from Ford Credit <location>Canada</location> Limited.  FAST financed the purchase by issuing a series of asset-backed notes to third party investors.  This transaction is not associated with the government-sponsored Canadian Secured Credit Facility.</p>
<p/>
<p>FAST is consolidated with Ford Credit <location>Canada</location> Limited for accounting purposes.  As a result of such consolidation, both the pool of retail contracts and the indebtedness incurred by FAST with respect to the series of asset-backed notes will be reflected on the consolidated financial statements of Ford Credit <location>Canada</location> Limited.</p>
<p/>
<p>Ford Credit <location>Canada</location> Limited will use the immediately available proceeds to repay indebtedness owing to Ford Credit International, Inc.  Ford Credit <location>Canada</location> Limited is an indirect, wholly owned subsidiary of Ford Motor Credit Company.</p>
<p/>
<p>Ford Motor Credit Company LLC 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. For more information, visit <a href="http://www.fordcredit.com">www.fordcredit.com</a>.</p>
<pre>
    



    

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

Organization Profile

FORD MOTOR CREDIT COMPANY

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890