Vauxhall starts up ABS in hot sterling market

PA-UK M25
By Jon Hay
04 Jan 2018

The first two European securitizations of 2018 appeared on Thursday — both sterling issues — with Vauxhall Finance, the new name for GMAC UK, announcing a £428m car loan ABS and Kensington Mortgage Co bringing the latest issue from its Finsbury Square programme.

There has been little ABS trading in the first three working days of 2018, but an investor said many banks were bidding on a good range of product, and there were a few offers.

More broadly, the sterling bond market has been rife with new deals. Nine borrowers ...

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