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AmeriCredit Announces $725 Million Senior Subordinate Asset-Backed Securitization

July 09, 2009

FORT WORTH, Texas — AmeriCredit Corp. announced July 7 the pricing of a $725 million offering of automobile receivables-backed securities through lead managers Credit Suisse and Deutsche Bank Securities. Co-managers are Barclays Capital, J.P. Morgan, RBS, and Wells Fargo Securities.

AmeriCredit plans to use the proceeds for long-term financing purposes.

The 2009-1 transaction will have initial credit enhancement of 28.10 percent, consisting of a 2 percent cash deposit and 26.10 percent overcollateralization. Total required enhancement level will build to 38 percent of the then-outstanding receivable pool balance, which includes the initial 2.00 percent cash deposit.

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