Auto ABS in fast lane as VW brings latest deal

Volkswagen logo on building
By Asad Ali
22 Aug 2018

Volkswagen Bank is lining up investor meetings for its second German auto loan ABS of the year, joining two other deals in the primary market. European Auto ABS volume has reached just under €13bn year to date, on track to speed past last year’s €14.9bn total.

Driver 15 is offering €694.5m of class ‘A’ notes and €21.7m of class ‘B’ notes. The deal is being arranged by sole Lloyds Bank with LBBW joins as joint lead, while the deal is rated by Moody’s and S&P Global Ratings.

The German passenger new car market grew ...

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