Ford Credit Canada Completes Retail Loan Securitization Transactions

On September 25, 2008, Ford Credit Canada Limited (FCCL) completed two retail loan securitization transactions, receiving immediately available proceeds of approximately $0.9 billion. In order to carry out the transactions, newly established trusts sponsored by FCCL purchased two pools of retail conditional sale contracts from FCCL. The trusts financed the purchases by issuing asset-backed notes to Canadian bank-sponsored securitization conduits.

FCCL and the trusts were represented by McCarthy Tétrault LLP with a team consisting of Dirk Rueter, Richard O'Doherty, Candace Pallone, Lynn Parsons, Jo-Anna Brimmer, Aaron Klopp (corporate), Jim Morand (tax) and Kevin McElcheran (bankruptcy).

Osler, Hoskin and Harcourt LLP advised the purchasers of the asset-backed notes, with a team consisting of Rick Fullerton and Todd Mandel.