TORONTO, April 05, 2023 (GLOBE NEWSWIRE) -- Ford Auto Securitization Trust, a trust administered by Ford Credit Canada Company, (the “Trust”) announced today that it has applied to the Ontario Securities Commission (the “OSC”), as principal regulator, for a decision that it has ceased to be a reporting issuer in all provinces of Canada.
As of today’s date, the Trust has thirteen series of asset-backed notes evidencing interests in various pools of receivables consisting of retail conditional sale contracts secured by new and used cars, light trucks and utility vehicles (“Notes”) outstanding (details of which are provided in Schedule “A”), all of which were offered on a private placement basis to eligible investors in Canada and the United States. The Trust no longer has any Notes outstanding that were issued publicly in Canada.
If the requested decision is granted by the OSC, and the conditions in Multilateral Instrument 11-102 – Passport System have been satisfied, the Trust will cease to be a reporting issuer in Ontario and will be deemed to cease to be a reporting issuer in all other provinces of Canada in which it is a reporting issuer (British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador) and, as a result, will no longer be required to file financial statements, management’s discussion and analysis and other continuous disclosure documents with any provincial securities regulatory authority in Canada.
The Trust will continue to cause to be prepared the monthly investor reports contemplated in each sale and servicing agreement for a series of Notes (each, a “Sale and Servicing Agreement”) and for these reports to continue to be made available in accordance with the terms of each Sale and Servicing Agreement.
For more information, please contact:
Investor Contact:
Fixed Income Investment Community:
Jessica Vila-Goulding
313.248.3896
jvila5@ford.com
Media Contact:
Artealia Gilliard
347.571.7127
agillia3@ford.com
SCHEDULE “A”
- Series 2021-A, Asset Backed Notes Class A-1, A-2, A-3, B and C
By a Canadian offering memorandum and a U.S. supplement offering memorandum each dated October 19, 2021, the Trust issued in Canada and the U.S. CDN$275,930,000 0.475% asset backed class A-1 Notes, Series 2021-A, CDN$348,000,000 1.162% asset backed class A-2 Notes, Series 2021-A, CDN$177,450,000 1.636% asset backed class A-3 Notes, Series 2021-A, and in Canada CDN$25,310,000 2.106% asset backed class B Notes, Series 2021-A and CDN $16,870,000 2.700% asset backed class C Notes, Series 2021-A. The class A-1 Notes matured prior to the date of the application. The class A-2 Notes have a final forecasted payment date of May 15, 2024. The class A-3, B and C Notes have a final forecasted payment date of August 15, 2025. - Series 2020-A, Asset Backed Notes Class A-1, A-2, A-3, B and C
By a Canadian offering memorandum and a U.S. supplement offering memorandum each dated October 20, 2020, the Trust issued in Canada and the U.S. CDN$242,010,000 0.516% asset backed class A-1 Notes, Series 2020-A, CDN$305,900,000 0.887% asset backed class A-2 Notes, Series 2020-A, CDN$157,540,000 1.153% asset backed class A-3 Notes, Series 2020-A, and in Canada CDN$22,260,000 1.872% asset backed class B Notes, Series 2020-A and CDN $14,830,000 2.763% asset backed class C Notes, Series 2020-A. The class A-1 Notes matured prior to the date of the application. The class A-2 Notes have a final forecasted payment date of May 15, 2023. The class A-3, B and C Notes have a final forecasted payment date of July 15, 2024. - Series 2019-B, Asset Backed Notes Class A-1, A-2, A-3, B and C
By a Canadian offering memorandum and a U.S. supplement offering memorandum each dated October 22, 2019, the Trust issued in Canada and the U.S. CDN$205,950,000 2.099% asset backed class A-1 Notes, Series 2019-B, CDN$260,330,000 2.321% asset backed class A-2 Notes, Series 2019-B, CDN$134,070,000 2.472% asset backed class A-3 Notes, Series 2019-B, and in Canada CDN$18,950,000 2.992% asset backed class B Notes, Series 2019-B and CDN $12,620,000 3.338% asset backed class C Notes, Series 2019-B. The class A-1 and A-2 Notes matured prior to the date of the application. The class A-3, B and C Notes have a final forecasted payment date of September 15, 2023. - Series 2019-A, Asset Backed Notes Class A-1, A-2, A-3, B and C
By a Canadian offering memorandum and a U.S. supplement offering memorandum each dated April 16, 2019, the Trust issued in Canada and the U.S. CDN$184,770,000 2.198% asset backed class A-1 Notes, Series 2019-A, CDN$240,100,000 2.354% asset backed class A-2 Notes, Series 2019-A, CDN$125,190,000 2.552% asset backed class A-3 Notes, Series 2019-A, and in Canada CDN$17,370,000 2.855% asset backed class B Notes, Series 2019-A and CDN $11,580,000 3.151% asset backed class C Notes, Series 2019-A. The class A-1 and A-2 Notes matured prior to the date of the application. The class A-3, B and C Notes have a final forecasted payment date of May 15, 2023. - Series 2022-R3 Asset Backed Notes
By way of private placement in Canada, the Trust issued CDN$1,005,000,000 asset backed Notes, Series 2022-R3, with a final forecasted payment date of April 15, 2026. - Series 2022-R2 Asset Backed Notes
By way of private placement in Canada, the Trust issued CDN$779,000,000 asset backed Notes, Series 2022-R2, with a final forecasted payment date of January 15, 2026. - Series 2022-R1 Asset Backed Notes
By way of private placement in Canada, the Trust issued CDN$1,255,000,000 asset backed Notes, Series 2022-R1, with a final forecasted payment date of December 15, 2025. - Series 2021-R2 Asset Backed Notes
By way of private placement in Canada, the Trust issued CDN$1,639,000,000 asset backed Notes, Series 2021-R2, with a final forecasted payment date of June 16, 2025. - Series 2021-R1 Asset Backed Notes
By way of private placement in Canada, the Trust issued CDN$1,399,000,000 asset backed Notes, Series 2021-R1, with a final forecasted payment date of January 15, 2025. - Series 2020-R2 Asset Backed Notes
By way of private placement in Canada, the Trust issued CDN$1,336,000,000 asset backed Notes, Series 2020-R2, with a final forecasted date of May 15, 2024. - Series 2020-R1 Asset Backed Notes
By way of private placement in Canada, the Trust issued CDN$519,000,000 asset backed Notes, Series 2020-R1, with a final forecasted payment date of January 16, 2024. - Series 2019-R2 Asset Backed Notes
By way of private placement in Canada, the Trust issued CDN$649,000,000 asset backed Notes, Series 2019-R2, with a final forecasted payment date of June 15, 2023. - Series 2019-R1 Asset Backed Notes
By way of private placement in Canada, the Trust issued CDN$599,000,000 asset backed Notes, Series 2019-R1, with a final forecasted payment date of April 17, 2023.
