PSA to pre-place Spanish auto ABS as market softens

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By Tom Brown
21 Sep 2020

Banque PSA Finance is set to pre-place most of its €692.1m Spanish Auto Loans 2020-1 deal with official institutions, with Santander arranging the transaction.

The 2.69-year senior tranche has a double-A rating from DBRS Morningstar and Fitch Ratings and is set to offer a floating rate coupon over one month Euribor, with credit enhancement of 20%. Classes ‘B’ and ‘C’ are also 2.69-year bonds, with credit enhancement of 12.5% and 6.3% respectively. 

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