Bloomberg Law
March 24, 2023, 5:57 PM

Ford Auto Bonds to Help Reopen ABS Market: Structured Weekly

Scott Carpenter

Ford Motor Co. is among the companies marketing new deals in a bid to reopen asset-backed markets after upheaval in the banking sector and rapid interest rate moves forced traders to adjust their expectations.

Ford began marketing $1.3 billion in bonds backed by prime auto loans earlier this week and is expecting to price its deal on March 28.

Traders are watching closely to see where the bonds’ spreads finally land, especially after issuers yanked earlier deals because of rapid moves in benchmark interest rates. More banking jitters in Europe on Friday could also keep markets unsettled.

“Ford is ...

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