GM Financial (ticker: ACF, exchange: New York Stock Exchange (.N))
News Release -
AmeriCredit Corp. Announces $600,000,000 Asset-backed Securitization
FORT WORTH, Texas--(BUSINESS WIRE)--Nov. 9, 2000--AmeriCredit
Corp. (NYSE:ACF) announced today the pricing of a $600 million
offering of automobile receivables-backed securities through Credit
Suisse First Boston, Banc of America Securities LLC, Barclays Capital,
Chase Securities Inc. and Deutsche Banc Alex. Brown.
The securities will be issued via an owner trust, AmeriCredit
Automobile Receivables Trust 2000-D, in four classes of Notes:
Class Amount Average Life Price Interest Rate
---- ------------ ----------- -------- -------------
A-1 $ 93,000,000 0.29 years 100.0000 6.72%
A-2 210,000,000 1.00 years 99.9940 6.69%
A-3 102,000,000 2.00 years 99.9822 6.74%
A-4 195,000,000 3.22 years 100.0000 1 mo. LIBOR + 0.21%
The weighted average coupon rate due to security holders is 6.7%.
The Class A-1 Notes will be rated A-1+ by Standard & Poor's and
P-1 by Moody's Investors Service, Inc. Notes in classes A-2 through
A-4 will be rated AAA by Standard & Poor's and Aaa by Moody's. 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-fourth
securitization of automobile receivables in which a total of over
$12.4 billion of automobile receivables-backed securities have been
AmeriCredit is the largest 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.
||AmeriCredit Corp., Fort Worth
||Kim Pulliam, 817/302-7009