VW readies second Driver ABS this year

Volkswagen Bank is looking to sell its second securitization of the year from its German Driver programme. Leads expect VW’s broad investor base will ensure smooth execution, despite the difficult market conditions that have pushed non-captive and bank affiliate car loan ABS spreads wider in the secondary market.

  • By Joseph McDevitt
  • 21 Jun 2013


Driver 11, which is backed by German loans, is made up of a €690m 1.8 year class ‘A’ tranche, with a triple-A rating and 9.2% credit enhancement, and a €24.4m 2.2 year class ‘B’ tranche, rated A+/A(high)/A1. It has 5.95% credit enhancement. Both tranches will be sold at ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,628 18 11.81
2 Citi 4,288 14 10.95
3 Rabobank 2,633 4 6.72
4 Goldman Sachs 2,615 4 6.67
5 Barclays 2,603 8 6.64

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 18 Jul 2017
1 Bank of America Merrill Lynch 57,210.26 177 12.39%
2 Citi 56,957.04 171 12.34%
3 Wells Fargo Securities 47,551.45 149 10.30%
4 JPMorgan 32,965.91 111 7.14%
5 Credit Suisse 23,990.96 75 5.20%