BNPP’s wait pays off as new money comes into Autonoria
The strategy of leads on BNP Paribas Personal Finance’s new auto ABS to give investors extra time to do credit work has paid off, with the deal coming 30bp inside the first Autonoria transaction earlier this year.
The leads finished a three day roadshow on November 7 with 550m of indications of interest. But they waited until Monday to launch, to allow new accounts to complete their credit work and get Autonoria lines in place.
There were some investors new to the auto class that needed
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