LeasePlan joins auto ABS fray

25 Jan 2010

Further evidence that the European securitisation market is continuing to recover emerged on Monday as RBS revealed it had privately placed Eu139.5m of triple-A notes from LeasePlan’s UK auto lease securitisation, Bumper 3.

The deal, the latest example of an originator selling down paper it had previously retained for liquidity purposes, was originally structured and retained in June 2009, and the ‘A’ tranche has Eu733m outstanding — the revolving period is due to end in June 2010, leaving an average remaining ...

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