Banque PSA sells club deal as RCI Banque preps its own auto ABS

Banque PSA has sold €450m of senior auto ABS bonds in a club deal, leaving other ABS investors to wait until next week to pick up French paper when RCI Banque is expected to come to market — although potentially at a much tighter spread.

  • 19 Oct 2012

Banque PSA sold the notes on Friday from the senior tranche of an auto ABS it retained in July.

Deutsche Bank and Natixis priced the €450m of triple-A rated 3.18 year bonds above par at a discount margin of 110bp over one-month Euribor. Banque PSA has kept the ...

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