Posts Tagged ‘Deutsche Bank Securities’

Dealer Services Corporation is first in independent floorplan provider to successfully issue Asset Backed Securities

Carmel, IN., March 24, 2011 – Dealer Services Corporation (“DSC”), a full-service auto floorplan finance company, announced today that it has consummated the offering of $252.2 million of asset backed securities (the “securities”) due 2014. The securities, issued through DSC Floorplan Master Owner Trust, are comprised of $225 million of senior secured notes and $27.2 million of subordinate secured notes.  The $225 million of senior notes achieved a DBRS, Inc. rating of AAA(sf) and the $27.2 million of subordinate notes achieved a DBRS, Inc. rating of BBB(sf).  The Rule 144A series 2011-1 offering was led by Deutsche Bank Securities who was the sole bookrunner on the transaction. Read the rest of this entry »