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GC Asia
Mercedes-Benz auto ABS sees spreads retrace
Mercedes-Benz priced Silver Arrow 12 on Thursday at one of the tightest auto ABS prints of the year, putting spread levels back in line with September prices, with the help of arranger Crédit Agricole.
The €750m German STS deal offered a single 1.6 year tranche, which was priced at a discount margin of 18bp over one month Euribor.
Initial price thoughts guided the seniors in the low to mid 20bp, but guidance was revised to 20bp-22bp.
But as books ballooned, ...Already a subscriber? Login
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