Aggressive price guidance for VCL
JPMorgan and WestLB have opened the books on Volkswagen Financial Services’ German car lease ABS, VCL 11. With the senior tranche three times covered at talk in the 115bp area over Euribor, tighter than earlier price whispers, the leads seem justified in their confidence of success. Read EuroWeek on Friday to find out how this deal and Lloyds’s Permanent RMBS fare.
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