Bonds
US Asset-Backed Bond Sales Surpass 2023 Total
- Issuance reached $283.4 billion after Ford sold debt Thursday
- New ABS sales could next exceed $312.6 billion priced in 2021
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Sales of US asset-backed bonds broke through last year’s total and sit in position to overtake the post-Great Financial Crisis record.
On Thursday, Ford priced a $1.7 billion bond backed by auto dealer floorplans, putting sales over 2023 with three months still to go. Companies have sold $283.4 billion of the securities, bonds backed by loans or leases for everything from cars to timeshares, over $1 billion more than last year’s full total, according to data compiled by Bloomberg News.