European auto ABS navigates market volatility
Sterling paper dominated European securitization issuance last week as issuers rushed ahead of further Brexit developments, with a particular focus on the auto ABS market, which saw three deals clear the pipeline.
The most recent deal to price was Dowson 2019-1, the debut offering from Oodle Car Finance, a KKR-backed fintech issuer with Citi taking the roles of arranger and joint lead manager. The senior notes were priced at 130bp over Sonia, backed primarily used cars and provisionally rated triple-A
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