Ford Motor Company (NYSE: F), a United States-based automaker, has increased the size of its asset-backed bond
to USD880m, Wall Street Journal has reported citing a source familiar with the deal.
Avis Budget Group Inc (NYSE: CAR), a US-based company that offers vehicle rental services, has announced that its Avis Budget Rental Car Funding LLC (AESOP) subsidiary has completed an asset-backed bond
The deal, in the form of an asset-backed bond
issue, is a first for showbusiness and the bond market.
Telewest, which supplies a telecommunication service across Merseyside and the North West was also reported to be planning to launch an asset-backed bond
early in the new year, aiming to raise around pounds 200m.
Global Banking News-17 June 2010-Bank of America boosts asset-backed bond
sales(C)2010 ENPublishing - http://www.
Global Banking News-14 December 2009-ECB may encourage asset-backed bond
market(C)2009 ENPublishing - http://www.
All of the Company's asset-backed bond
transactions are treated for accounting and tax purposes as financing arrangements so the mortgage loans are retained in the consolidated balance sheet of NovaStar Financial, Inc.
Another Blow from the SEC: Tougher Rules for Asset-Backed Bonds
The European Central Bank (ECB) is in early discussions to find ways to make loans against approxiamtely EUR1tn of asset-backed bonds
more attractive to financial institutions, according to reliable sources quoted by Reuters.
US sub-prime loans effectively poisoned asset-backed bonds
as struggling American borrowers defaulted on their repayments, which then triggered the crippling global credit squeeze and subsequent banking meltdown.
Although uncommon in most municipal deals, different ratings based on maturity are common with asset-backed bonds
, such as home equity debt.
Bowie has opened what is envisioned as a new market for so-called asset-backed bonds
, which derive value from payments on such things as home mortgages or car loans.