Mercedes prices Silver Arrow 11 in line with BMW market opener

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By Tom Brown
19 May 2020

Mercedes-Benz priced its Silver Arrow Compartment 11 ABS auto deal at 40bp for the senior notes, in line with a deal from BMW which reopened the European ABS market last week.

Arranger BNP Paribas and joint lead LBBW set the spread at 40bp-42bp, down from initial price thoughts (IPTs) in the mid 40bp. An update showed books at €1.3bn at IPTs before pricing.

The deal sported a very large €1.7bn class ‘A’ tranche, a portion of which was ...

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