VW and GMAC Bank enjoy successful auto ABS issues

Volkswagen’s auto ABS deals are fast becoming one of the most predictable outcomes in the capital markets, after it achieved yet another record tight print this week. Meanwhile, fellow German issuer GMAC Bank found solid initial demand for its fixed rate auto offering, E-Carat 5.

  • 22 Feb 2013
Volkswagen’s VCL 17 was priced on Thursday and became the tightest auto lease ABS since the 2008 financial crisis. Commerzbank, SEB and VW Bank priced the €697.5m ‘A’ tranche in line with guidance of one month Euribor plus 25bp area. The ‘B’ tranche was priced at 75bp over, ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Bank of America Merrill Lynch (BAML) 4,755 19 11.75
2 Citi 4,288 14 10.60
3 Rabobank 2,633 4 6.51
4 Goldman Sachs 2,615 4 6.46
5 Barclays 2,603 8 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Bank of America Merrill Lynch 57,945.74 181 12.35%
2 Citi 57,243.86 174 12.20%
3 Wells Fargo Securities 48,214.86 152 10.28%
4 JPMorgan 33,301.70 114 7.10%
5 Credit Suisse 25,010.27 80 5.33%