FORT WORTH, Texas — General Motors Financial Co. announced Wednesday that it has priced a $950 million offering of auto receivables-backed securities through lead managers Deutsche Bank Securities, J.P. Morgan and UBS Investment Bank.

Co-managers include Barclays Capital, Credit Suisse and RBS.

The company plans to use the net proceeds for the long-term financing of its receivables.

The securities will be issued via an owner trust called AmeriCredit Automobile Receivables Trust 2011-2, in seven classes of notes:

A-1

Amount: $217.3 million

Average Life: 0.22 years

Price 100

Interest Rate: 0.32259 percent

Standard & Poor's: A-1+

Moody's: P-1

DBRS: R-1 (high)

 

A-2

Amount: $302.6 million

Average Life: 0.95 years

Price: 99.99312

Interest Rate: 0.90 percent

S&P: AAA

Moody's: Aaa

DBRS: AAA

 

A-3

Amount: $153.419 million

Average Life:

2.10 years

Price: 99.99266

Interest Rate: 1.61 percent

S&P: AAA

Moody's: Aaa

DBRS: AAA

 

B

Amount: $73.077 million

Average Life: 2.82 years

Price: 99.99824

Interest Rate: 2.33 percent

S&P: AA

Moody's: Aa2

DBRS: AA

 

C

Amount: $90.717 million

Average Life: 3.43 years

Price: 99.99453

Interest Rate: 3.19 percent

S&P: A

Moody's: A2

DBRS: A

 

D

Amount: $89.205 million

Average Life: 3.89 years

Price: 99.96638

Interest Rate: 4 percent

S&P: BBB

Moody's: Baa2

DBRS: BBB

 

E

Amount: $23.682 million

Average Life: 3.90 years

Price: 99.98282

Interest Rate: 5.48 percent

S&P: BB

Moody's: Ba2

DBRS: BB

The 2011-2 transaction will have an initial credit enhancement of 7.75 percent, consisting of a 2 percent cash deposit and 5.75 percent overcollateralization. Total required enhancement will build up to 14.75 percent of the then-outstanding receivable pool balance, which includes the initial 2 percent cash deposit.

Copies of the prospectus relating to the public offering of securities can be obtained from the lead managers and co-managers. The Class E Notes have been privately offered via a private placement memorandum, which may be obtained from lead managers.