AmeriCredit Announces $850 Million Senior
Subordinate Asset-Backed Securitization
September 15, 2010 02:09 PM Eastern Daylight Time
FORT WORTH, Texas--(EON: Enhanced Online News)--AMERICREDIT CORP. (NYSE: ACF) today
announced the pricing of an $850 million offering of automobile receivables-backed securities through lead managers
Barclays Capital, UBS Investment Bank and Wells Fargo Securities. Co-managers are Credit Suisse, J.P. Morgan
and RBS. AmeriCredit uses net proceeds from securitization transactions for long-term financing of its receivables.
The securities will be issued via an owner trust, AmeriCredit Automobile Receivables Trust 2010-3, in six classes of
The weighted average coupon on the Notes to be paid by AmeriCredit is 2.5%.
The Note Classes are rated by Standard & Poor’s and Moody’s Investors Service. The ratings by Note Class are:
The 2010-3 transaction will have initial credit enhancement of 10.50%, consisting of a 2.00% cash deposit and
8.50% overcollateralization. Total required enhancement will build to 19.20% of the then-outstanding receivable
pool balance, which includes the initial 2.00% cash deposit.
Copies of the prospectus relating to this offering of receivables-backed securities may be obtained from the lead
managers and co-managers. This press release shall not constitute an offer to sell or the solicitation of an offer to buy
the securities described in this press release, nor shall there be any sale of these securities in any State in which such
offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any
AmeriCredit Corp. is a leading independent automobile finance company that provides financing solutions indirectly
through auto dealers across the United States. AmeriCredit has about 800,000 customers and approximately $9
billion in auto receivables. The Company was founded in 1992 and is headquartered in Fort Worth, Texas. For
more information, vis