Volkswagen revs up French debut, eyes frequent issuance

By Joseph McDevitt
29 Aug 2013

Volkswagen, the benchmark issuer in German auto asset-backed securities, is stepping into the French securitization market for the first time with a new auto loan deal, Driver France FCT Compartiment 2013-1, and hopes to become a regular ABS issuer there. Securitization practitioners not connected to the deal welcomed the move, noting the issuer’s strong standing in the market could help establish a new benchmark.

The issuer will begin meeting with investors on Friday, with the roadshow continuing next week on Monday through to Wednesday, according to Stefan Rolf, head of asset-backed securitization at Volkswagen. The deal is being jointly arranged by BNP Paribas and VW Financial Services. BNP and Barclays are joint ...

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