GM Financial Canada is preparing to offer $577.5 million in prime auto ABS notes
The undiscounted residual value composition is 77.54%, higher than prior GCOLT deals, such as the GCOLT 2021-1, which was 70.50%.
Source: americanbanker.com
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The undiscounted residual value composition is 77.54%, higher than prior GCOLT deals, such as the GCOLT 2021-1, which was 70.50%.
Prime loans comprise the collateral pool, and the deal has a more diverse loan maturity profile than previous deals.
Some 74.8% of the loans had original terms greater than 60 months, higher than 68.5% than the FAST 2020.
The offering is the latest securitization in the fertile automobile ABS market
Both used and new cars make up the collateral in COPAR 2022-1