AmeriCredit Announces $1.8 Billion Asset-Backed Securitization.Business Editors FORT WORTH, Texas--(BUSINESS WIRE)--Oct. 17, 2001 AMERICREDIT CORP. (NYSE NYSE See: New York Stock Exchange : ACF) announced today the pricing of a $1.8 billion offering of automobile receivables-backed securities through Lead Managers J.P. Morgan Securities Inc. and Deutsche Bank Alex. Brown Deutsche Bank Alex. Brown is the private client services division of Deutsche Bank Securities, the U.S. corporate and investment arm of German banking colossus Deutsche Bank. It is the organization successor to the 200 year-old investment bank Alex. and Co-Managers Banc of America Securities LLC, Credit Suisse First Boston Credit Suisse First Boston was originally the trading name of the Financière Crédit Suisse-First Boston, a London-based 50-50 investment banking joint venture formed in 1978 between the First Boston Corporation and Credit Suisse. , and Merrill Lynch & Co. The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2001-D, in four classes of Notes:
Note Class Amount Average Life Price Interest Rate
A-1 $ 234,000,000 0.32 years 100.0000 2.39%
A-2 610,000,000 0.95 years 100.0000 1 mo. LIBOR + 0.23%
A-3 481,000,000 2.10 years 100.0000 1 mo. LIBOR + 0.30%
A-4 475,000,000 3.42 years 99.9863 4.41%
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$1,800,000,000
The weighted average coupon Weighted average Coupon The weighted average of the gross interest rates of mortgages underlying a pool as of the pool issue date; the balance of each mortgage is used as the weighting factor. paid by AmeriCredit is 3.9%. The Class A-1 Notes will be rated A-1 by Standard & Poor's, Prime -1 by Moody's Investors Service Moody's Investors Service A leading global credit rating, research and risk analysis firm. Moody's Investors Service A leading firm engaged in credit rating, risk analysis, and research of fixed-income securities and their issuers. , Inc. and F-1 by Fitch, Inc. Notes in classes A-2 through A-4 will be rated AAA AAA: see American Automobile Association. (Triple A) A common single-cell battery used in a myriad of electronic devices of all variety. Like its double A (AA) cousin, it provides 1.5 volts of DC power. When used in series, the voltage is multiplied. by Standard & Poor's, Aaa by Moody's and AAA by Fitch. Timely principal and interest payments on the Notes are guaranteed by an insurance policy provided by Financial Security Assurance Inc. The transaction represents AmeriCredit Corp.'s twenty-ninth securitization of automobile receivables in which a total of over $20.2 billion of automobile receivables-backed securities have been issued. AmeriCredit is the largest independent middle market automobile finance company in North America specializing in purchasing and servicing automobile loans. AmeriCredit maintains a Web site at www.americredit.com that contains further information on the Company. |
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