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.
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
Please take a trial or subscribe to access this content.
Contact our subscriptions team to discuss your access: email@example.com
To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: firstname.lastname@example.org or find out more online here.