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 10,542 20 17.55
2 Bank of America Merrill Lynch (BAML) 6,103 21 10.16
3 Citi 5,130 13 8.54
4 JP Morgan 4,681 6 7.79
5 Morgan Stanley 4,137 11 6.89

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 81,261.11 236 11.54%
2 Bank of America Merrill Lynch 66,433.81 187 9.43%
3 Wells Fargo Securities 57,637.40 170 8.18%
4 JPMorgan 53,570.42 158 7.61%
5 Credit Suisse 45,349.30 117 6.44%