VCL 16 leaves scope for post-deal performance

Volkswagen has priced the tightest European auto ABS since the crisis, after leads fixed the spread for the senior tranche at 27bp over one month Euribor.

  • 13 Sep 2012

Leads Crédit Agricole and HSBC also increased the size of the 1.27 year senior tranche from €697.5m to €1bn on Wednesday. At the same time, they increased the single-A rated ‘B’ tranche from €21m to €30m and priced it at 90bp over one month Euribor.

The 27bp level on ...

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GlobalCapital European securitization league table

Rank Lead Manager/Arranger Total Volume $m No. of Deals Share % by Volume
1 Citi 4,296 9 12.14
2 BNP Paribas 3,136 11 8.86
3 Bank of America Merrill Lynch (BAML) 3,067 11 8.67
4 Lloyds Bank 2,346 10 6.63
5 Morgan Stanley 2,138 5 6.04

Bookrunners of Global Structured Finance

Rank Lead Manager Amount $m No of issues Share %
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1 Citi 48,731.88 138 11.84%
2 Bank of America Merrill Lynch 44,227.86 120 10.74%
3 Wells Fargo Securities 33,922.42 99 8.24%
4 JPMorgan 31,992.55 93 7.77%
5 Credit Suisse 24,807.99 61 6.03%