VW testing tighter with ECB to come

Volkswagen logo on building
By Tom Porter
20 Jan 2015

Volkswagen Bank is ready to set a tight benchmark for the rest of the European ABS market to follow on Wednesday after tightening guidance on its Driver Thirteen German auto ABS to a minimum spread of 25bp on Tuesday.

The German carmaker’s financial arm and its lead managers Citi and Lloyds have not yet updated the market with any book size for the €717m auto loan-backed transaction.

However, a person involved in the trade said setting guidance on the €691.5m triple-A two year Class A notes at ...

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