Banque PSA German auto ABS successfully priced

01 May 2013

Banque PSA’s securitisation of German auto leases, Auto ABS FCT Compartiment 2013-1, was priced in line with guidance on Thursday afternoon.

Leads HSBC and JP Morgan priced the €361m of triple-A class ‘A’ notes at 80bp over one month Euribor, in line with guidance in the 80bp area. The notes were priced on the back of a book that was covered 1.35 times, though this oversubscription level did not ...

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