Globaldrive Auto Receivables B.V

The re-emergence of FCE Bank as an originator after an absence of over 4 years from the European
public secutisation market (6 previous transactions, the last closing in June 2003). FCE Bank is the
European financial arm of Ford Credit Company, and provides finance for both dealers and end users
of FMC’s automotive products. Essentially, FCE Bank provides financing for all Ford brands in Europe,
namely Ford, Mazda, Volvo, Land Rover and Jaguar.

For this transaction the collateral consists of 103,724 auto loans all of which have been originated by
FCE Bank through its German dealer network. The static portfolio is collateralised by 70.37% new cars,
(21.10% ex-demonstration cars are included in this figure) and 29.63% used cars. The loans have been
mainly granted to private obligors (95.64%), hence the deal is highly granular with the largest obligor in
the portfolio only accounting for 0.03% of the total portfolio amount. The average loan size is Eur9,619
with a remaining avarge tenure of 40 1/2mnths. The weighted average seasoning of the initial portfolio
is approx 8mnths.


Compare/contrast: Globaldrive BV Series F, Bavarian Sky S.A Compartment 1,
Cars Alliance Funding 2007-1
Globaldrive B.V. Series FBavarian Sky S.A Compartment 1Cars Alliance Funding 2007-1