Citizen Irish announces rare auto ABS

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By Tom Brown
27 Oct 2020

Citizen Irish has mandated Deutsche Bank as arranger and Citi as joint-lead manager for a new Irish auto ABS, the third deal to come from the issuer after a two-year break.

Citizen Irish Auto Receivables Trust 2020 has four tranches on offer, quoting a floating rate coupon over one-month Euribor.

The 2.31-year senior tranche has a credit enhancement of 16.45%, while the 4.17-year class ‘B’ tranche has a CE of 11.15%, the 4.44-year class ‘C’ tranche has 7.75%, ...

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