SocGen equipment loan ABS finds broad distribution
Investor interest in Société Générale’s Red & Black TME Germany was undimmed during pricing on Wednesday, even at a final spread that came close to top tier auto ABS despite being a new asset class — equipment loans — and a new issuer.
Leads Credit Suisse and Société Générale priced the deal at 50bp over one month Euribor for the one year 513m class A notes.
The pricing is pretty phenomenal for this type of collateral, said one banker on the deal. Its an inaugural issuer and inaugural asset class, and
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