Banque PSA and BMW market new ABS issues

Banque PSA Finance is preparing a new securitisation of French auto loans, continuing a busy month of issuance in the ABS market for Peugeot-Citroën’s auto lending arm. BMW has also started investor meetings for a new Bavarian Sky transaction.

  • 24 May 2013
Auto ABS FCT Compartiment 2013-2 will offer investors €450m of triple-A rated notes with a 2.65 year weighted average life and 9% credit enhancement, as well as €19.7m of class ‘B’ A2/A+ (Moody’s/Fitch) rated notes with a 4.97 year WAL and 5% credit enhancement. Banque PSA will retain ...

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1 Bank of America Merrill Lynch (BAML) 7,026 25 11.95
2 Citi 6,449 21 10.96
3 BNP Paribas 5,093 18 8.66
4 Barclays 4,040 11 6.87
5 Lloyds Bank 3,615 14 6.15

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3 SG Corporate & Investment Banking 1,292.64 1 7.32%
3 Rabobank 1,292.64 1 7.32%
5 Bank of America Merrill Lynch 1,226.20 5 6.94%