Volkswagen retains first Private Driver of 2015

Volkswagen logo on building
By Tom Porter
26 Mar 2015

Despite being able to command some of the tightest spreads in the European ABS market in recent years, Volkswagen Bank has opted to fully retain its latest securitization of German auto loans.

The German carmaker’s finance arm set a tight benchmark with the first deal of the year, pricing the €691.5m two year notes of its public Driver Thirteen auto ABS at 25bp over one month Euribor, with 35 investors pushing the book to 2.85 times covered.

Those notes ...

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