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 Share % by Volume
1 Societe Generale 13.43
2 Rabobank 12.61
3 Morgan Stanley 10.27
4 Barclays 7.86
5 Natwest Markets (RBS) 7.15

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
  • Last updated
  • 27 Mar 2017
1 Bank of America Merrill Lynch 18,561.02 56 11.69%
2 Wells Fargo Securities 18,160.90 57 11.44%
3 JPMorgan 12,092.45 38 7.62%
4 Citi 11,878.92 43 7.48%
5 Credit Suisse 9,276.87 26 5.84%