Avis preps novel euro car fleet deal securitising residual value

Avis Budget Group is preparing its debut in Europe’s securitisation market — a €500m private placement to finance its subsidiary car rental businesses in Germany, Spain and Italy.

  • 15 Mar 2013

Crédit Agricole is lead manager and arranger on the deal, which securitises the residual value (RV) of Avis’s car rental fleets. Such RV securitisations remain rare in Europe post-crisis, but the trade is being seen as a positive step for the region’s securitisation market.

Laurent Haik, head of operating ...

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1 Bank of America Merrill Lynch (BAML) 6,665 23 12.97
2 Citi 5,781 17 11.25
3 BNP Paribas 3,715 15 7.23
4 Barclays 2,853 9 5.55
5 Credit Suisse 2,783 8 5.42

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3 Wells Fargo Securities 72,661.39 222 9.59%
4 JPMorgan 52,367.24 169 6.91%
5 Credit Suisse 41,885.89 127 5.53%