VW Auto Lease ABS Makes Strong Start

Both tranches in Volkswagen’s German auto lease securitization, VCL 17, are already comfortably covered only a few hours after leads put out formal guidance and opened books on Wednesday morning.

  • 20 Feb 2013

Both tranches in Volkswagen’s German auto lease securitization, VCL 17, are already comfortably covered only a few hours after leads put out formal guidance and opened books on Wednesday morning.

Joint leads Commerzbank, SEB and VW Bank went out with price guidance of one month EURIBOR plus 25 ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 BNP Paribas 14,443 29 18.07
2 Bank of America Merrill Lynch (BAML) 8,264 27 10.34
3 Lloyds Bank 7,329 24 9.17
4 Citi 6,748 19 8.44
5 JP Morgan 5,220 8 6.53

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 117,261.12 337 11.10%
2 Bank of America Merrill Lynch 94,723.52 272 8.97%
3 JPMorgan 92,612.23 269 8.77%
4 Wells Fargo Securities 82,597.19 239 7.82%
5 Credit Suisse 69,442.99 183 6.57%