Banque PSA revolver offers spread pick-up
Peugeot’s Banque PSA Finance (Baa1) priced its FCT Compartiment 2011-1 auto ABS on Tuesday through joint leads BNP Paribas and Société Générale. Its unusual structure and duration meant pricing was considerably tighter than its previous auto ABS, but somewhat wider than where other European auto ABS have been priced this year.
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