Volkswagen joins growing ABS pipeline

Volkswagen Financial Services has turned to its VCL programme for its first auto lease securitization of the year, adding to growing momentum in the European ABS pipeline.

  • By Joseph McDevitt
  • 22 Jan 2014

VCL 19 will offer investors €697.5m of triple-A rated class ‘A’ notes, with 1.24 year weighted average life and 8.2% credit enhancement, and €22.5m of single-A rated ‘B’ notes with 1.77 year WAL and 5.2% credit enhancement.

Volkswagen has hired Barclays and Commerzbank as lead managers on ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Share % by Volume
1 Societe Generale 14.60
2 Rabobank 13.70
3 Morgan Stanley 11.16
4 Barclays 8.55
5 Credit Agricole 7.20

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