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.
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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