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Flagship Credit Acceptance completes asset-backed securitization

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Flagship Credit Acceptance completes asset-backed securitization

Flagship Credit Acceptance LLC issued $400 million of notes witha weighted average effective coupon of approximately 4.38% in an asset-backed securitizationtransaction that closed May 5.

The company said Flagship Credit Auto Trust 2016-2 was able toupsize its original offering size to $400 million from $350 million due to stronginvestor demand.

Wells Fargo Securities and Deutsche Bank Securities were jointbook runners for the transaction.