Volkswagen opens books for fifth Spanish auto ABS

PA-UK M25
By Bill Thornhill
25 Jan 2018

Volkswagen Finance has mandated leads and opened order books for its fifth securitization of Spanish auto loans. Investors believe guidance is attractive, but with 'super-strong demand' the deal is ultimately expected to be priced tight.

On Thursday Volkswagen Finance opened order books for Driver España Five Spanish Auto Loan ABS. ING is sole arranger and joint lead manager alongside DZ Bank, BBVA and UniCredit.

The €666m 1.7 year Aa2/AAA rated ‘A’ class notes with 12.5% credit enhancement ...

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