General Motors Financial will issue $950 million of automobile receivables-backed securities. Owner trust, AmeriCredit Automobile Receivables Trust 2011-2, will issue the securities.
The proceeds from the securitization transactions will be used by the company for long-term financing of its receivables. Deutsche Bank Securities, JP Morgan and UBS Investment Bank are acting as the lead managers, while the co-managers are Barclays Capital, Credit Suisse and RBS.
Click here for the release from Business Wire.