VW closes STS auto ABS deal in private

Volkswagen_AdobeStock_575x375_29April20
By Tom Brown
29 Apr 2020

Volkswagen Financial Services UK closed Private Driver UK 2020-1 on Tuesday, a deal qualifying for the ‘simple, transparent and standardised’ (STS) label and privately placed with investors.

The £253.4m, 2.46-year class 'A' notes were priced at 105bp over Sonia with credit enhancement of 28.8%, while the £29.9m, 2.75-year class 'B' notes were priced at 205bp over Sonia.

Though the public markets in consumer securitization have been effectively closed since the start of the coronavirus crisis, private ...

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