VW readies first Italian ABS, while Finnish CMBS nears pricing

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By Bill Thornhill
11 Apr 2018

Volkswagen Bank has set guidance for its first auto securitization backed by Italian loans, while initial price thoughts for Finnish CMBS FROSN 2018 DAC have been released.

Guidance for the €441m class ‘A’ notes of Driver Italia One was set on Wednesday at 40bp over one month Eurbor. The tranche is rated Aa2/AA/AAA by Moody’s, S&P Global Ratings and DBRS respectively. The notes have a 1.28 year weighted average life and credit enhancement of 13.1%. 

The ...

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