Ford Credit Canada Completes Retail Securitization Transaction

On June 29, 2009, Ford Credit Canada Limited (FCCL) completed a retail loan securitization transaction, receiving proceeds of $0.6 billion. In order to carry out the transaction, Ford Auto Securitization Trust, a newly established master trust sponsored by FCCL, purchased a pool of retail conditional sale contracts from FCCL. The Trust financed the purchase by completing an initial public offering of three classes of Series 2009-R1 Asset-Backed Notes to third-party investors. The offering was made by a syndicate of underwriters consisting of HSBC Securities (Canada) Inc., Scotia Capital Inc. and RBC Capital Markets.

FCCL and the Trust were represented by McCarthy Tétrault LLP, with a team consisting of Dirk Rueter, Simon Fitzpatrick, Dean Masse, Candace Pallone, Mary Jeanne Phelan and Jo-Anna Brimmer (corporate and securities), James Morand (tax) and Kevin McElcheran (bankruptcy), and by Dewey & LeBoeuf LLP, with a team led by Joseph Topolski.

The underwriters were represented by Osler, Hoskin & Harcourt LLP, with a team consisting of Richard Fullerton, Robert Lando, Jason Comerford, Constantine Troulis and Justin Williams, and by Sonnenschein Nath & Rosenthal LLP, with a team consisting of Stephen Kudenholdt, Maria Livanos and Walter Van Dorn, Jr.


Richard J. Fullerton James G. Morand Jo-Anna Brimmer Candace M. Pallone Simon R. Fitzpatrick Robert C. Lando Dean C. Masse Jason Comerford Justin Williams Dirk E. Rueter Kevin P. McElcheran Constantine Troulis Mary Jeanne F. Phelan


McCarthy Tétrault LLP Dewey & LeBoeuf LLP Osler, Hoskin & Harcourt LLP Sonnenschein Nath & Rosenthal LLP