Sterling asset managers show appetite for A-Best auto ABS

27 Mar 2013

UK asset managers piled into FGA Capital UK’s auto ABS, A-Best 8, leaving books on both tranches more than two and a half times covered and enabling leads to price at the tight end of guidance.

Leads Bank of America Merrill Lynch, Crédit Agricole and UniCredit revised guidance on Wednesday morning to 47bp-50bp over one month Libor for the £218.8m ‘A’ tranche and 115bp-120bp over for the £41.3m single-A rated ‘B’ tranche.

The spread for both tranches was fixed at the tight end of ...

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