VW lands biggest auto ABS since ‘07 after puzzling price pointers

VW 230
By Tom Porter
16 Apr 2014

Volkswagen Bank printed the largest auto loan securitization since the onset of the financial crisis this week, despite its leads leaving rival syndicate teams nonplussed by deciding to go to one decimal place with initial price thoughts on the senior notes.

Arrangers Raiffeisen Bank International and Volkswagen Financial Services and fellow bookrunner Royal Bank of Canada put out initial price thoughts on Monday morning of one month Euribor plus 37.5bp area for the €922m triple-A 1.9 year ‘Class A’ notes, as well as one month Euribor plus 75bp area ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial