Revved up auto ABS to welcome new Merc

By Tom Porter
28 Aug 2014

Mercedes-Benz Bank has mandated for its first euro denominated auto ABS transaction of the year, with securitization bankers expecting the issuer’s scarcity value relative to other German credits to help drive it towards the tight end of the market. The deal is expected to precede a flurry of European auto ABS in the coming days.

The German carmaker’s finance arm has hired Commerzbank and Lloyds as joint lead managers for the €800m Silver Arrow 5, which will be backed by 46,737 fixed rate auto loans originated in Germany.

The team will hold conference calls on Monday next week, before a series of one-on-one investor ...

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