VW readies first Italian ABS, while Finnish CMBS nears pricing

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.

  • By Bill Thornhill
  • 11 Apr 2018

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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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 13.65
2 BNP Paribas 3,026 10 9.61
3 Bank of America Merrill Lynch (BAML) 2,411 8 7.66
4 Lloyds Bank 2,213 9 7.03
5 Credit Agricole 2,025 6 6.43

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 33,892.62 98 11.03%
2 Bank of America Merrill Lynch 30,933.21 87 10.07%
3 Wells Fargo Securities 26,900.77 74 8.75%
4 JPMorgan 23,031.77 69 7.50%
5 Credit Suisse 19,951.44 47 6.49%