VW set for Spanish test as Arkle, Fosse sparkle
Europe’s securitisation market has so far shown little reaction to the volatility afflicting sovereign and financial institutions debt. A strong showing for Lloyds Banking Group’s return to the Arkle programme was swiftly followed by the announcement of another issue from Alliance & Leicester’s Fosse. Volkswagen Financial Services’ Spanish auto ABS faces a tougher challenge given its jurisdiction and should show exactly how immune securitisation is from contagion. Read EuroWeek on Friday to find out how it fares.
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