Debut Finnish issuer enters auto ABS market

Finland_Alamy_575x375_07April21
By Tom Brown
07 Apr 2021

Debut Finnish issuer LocalTapiola Finance has mandated BNP Paribas for its first auto ABS transaction, bringing a single offered tranche with a pre-set 70bp coupon over one-month Euribor on offer.

A provisional pool of €592m made up of 39,375 retail auto hire purchase contracts is backing the Finnish deal. The average seasoning is around one year at 11.96 months, a few months longer than the most recent Finnish auto transaction.

LT Autorahoitus (Tommi 1) is dual tranche but ...

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