Deutsche unveils European auto floorplan ABS

12 Apr 2012

The European ABS market this week ushered in the first dealer floorplan securitisation since the 2008 crisis. EMOT 2012-1, lead managed by sole arranger Deutsche Bank, is the continent’s second ever public securitisation of loans provided by car manufacturers to dealerships to pay for inventory.

Already well established and popular in the US, the product is likely to take off quickly in Europe, with supply and demand seemingly perfectly matched. Investors snapped up all of the triple-A and double-A rated notes on offer — a total of €493.9m — while on the originator ...

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