Volkswagen joins growing ABS pipeline

By Joseph McDevitt
22 Jan 2014

Volkswagen Financial Services has turned to its VCL programme for its first auto lease securitization of the year, adding to growing momentum in the European ABS pipeline.

VCL 19 will offer investors €697.5m of triple-A rated class ‘A’ notes, with 1.24 year weighted average life and 8.2% credit enhancement, and €22.5m of single-A rated ‘B’ notes with 1.77 year WAL and 5.2% credit enhancement.

Volkswagen has hired Barclays and Commerzbank as lead managers on ...

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