Investors welcome ABS deals from AmEx, Toyota

04/29/2010 | Wall Street Journal, The

American Express garnered enough investor interest for a bond backed by credit card loans to increase the issue's size. The deal is the company's first since the government withdrew its backing of the asset-backed securities market. Toyota Motor Credit's bond backed by auto loans also received warm reception. The deals indicate the securitization market is faring well after the end of the Federal Reserve's Term Asset-Backed Securities Loan Facility.

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