Big September for Europe ABS as VW hits UK

By Tom Porter
21 Aug 2014

Volkswagen Financial Services is set to print just its second UK auto ABS transaction in September, and European ABS bankers predict the deal could have plenty of competing supply next month as issuers try to take advantage of a build-up of cash on investors’ balance sheets.

HSBC has joined Volkswagen Financial Services as co-arranger on the as yet unsized Driver UK Two transaction, while Credit Suisse will join HSBC and Volkswagen Bank as bookrunner. The team will conduct a roadshow from August 26-29.

The borrower’s only previous trade backed by UK originated auto loans ...

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