VCL 16 leaves scope for post-deal performance

Volkswagen has priced the tightest European auto ABS since the crisis, after leads fixed the spread for the senior tranche at 27bp over one month Euribor.

  • 13 Sep 2012

Leads Crédit Agricole and HSBC also increased the size of the 1.27 year senior tranche from €697.5m to €1bn on Wednesday. At the same time, they increased the single-A rated ‘B’ tranche from €21m to €30m and priced it at 90bp over one month Euribor.

The 27bp level on ...

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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 Citi 75,310.44 219 13.28%
2 Bank of America Merrill Lynch 66,692.14 207 11.76%
3 Wells Fargo Securities 56,313.78 180 9.93%
4 JPMorgan 40,793.11 141 7.20%
5 Credit Suisse 32,293.17 98 5.70%